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Reuters reports lean hog futures fell for a second straight session on technical selling, ample pork supply and trade tensions with China and Mexico. Live cattle closed lower as rising supplies outweighed support from cash prices near $111/cwt.
Trade tensions and heavy pork supply weigh on hog values, while rising cattle supplies cap live cattle prices despite cash strength.
agcanada.comAGCanadaJul 17, 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 121 past bearish trade events, Live Cattle moved a median -0.6% over 5 sessions (40% higher; middle half -1.6% to +0.8%), and -0.3% 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.
Reuters reports hog futures fell on technical selling, ample pork supply and China/Mexico trade tensions on the move date.
