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CME lean hog futures were choppy on June 17 as US processors ramped up slaughter and a backlog of animals built up. Chinese importers worried about clearing delays after Tianjin port began testing every meat container for coronavirus.
July hogs settled unchanged at 49.65 cents and August rose to 53.175 cents.
Heavy US supplies and the risk of slower Chinese meat imports weigh on near-term hog prices, though analysts expect a tighter market by fall.
thepigsite.comMegan HowellJun 18, 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.
