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US lean hog futures declined on 29 July amid pressure from large hog supplies and trader concerns about export demand, particularly from China. The October lean hog contract settled down 0.900 cents at 49.825 cents per pound.
Traders awaited the USDA weekly export sales report.
Heavy hog supplies and uncertain Chinese pork import demand weigh on futures, signaling softer pork-based feed demand and lower hog values for feed buyers.
thepigsite.comMegan HowellJul 30, 2020Not enough comparable past events yet for a historical read.
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.
