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Reuters reports lean hog futures fell for a third straight day to new contract lows on fears that trade tensions will push more pork into the domestic market. Live cattle closed firmer on short-covering as packers were expected to buy more to cover cash shortfalls.
Trade-driven pork oversupply pressures hog prices, while expected packer demand supports cattle; both feed into feed-buyer cost and margin outlooks.
grainews.caGFM Network NewsJul 18, 2018After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% over 20.
After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% over 20.
After 47 past bullish trade events, Feeder Cattle moved a median +0.2% over 5 sessions (53% higher; middle half -1.0% to +1.0%), and +1.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
