# CME update: hog futures dive on economic concerns and larger-than-anticipated supply
						 | The Pig Site

> US lean hog futures dropped by the daily limit on June 26 after the USDA report showed a record-large June 1 hog supply, up 5.2% year on year against an expected 3.7%. Economic worries tied to rising COVID-19 cases also weighed on the market, and July, August and October contracts hit lows.

- Date: 2020-06-29 · published 2020-06-29T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/52768-cme-update-hog-futures-dive-on-economic-concerns-and-larger-than-anticipated
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

A heavier-than-expected supply of market-ready hogs lowers near-term hog prices and signals softer demand for feed going into the summer.

## Read by commodity

- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2020-11-11 | [CME update: lean hog futures weaken as corn prices surge
						 \| The Pig Site](https://feedsoft.ai/events/50300-cme-update-lean-hog-futures-weaken-as-corn-prices-surge-the-pig-site.md) | -0.6% | -3.0% |
| HOGS | 2019-08-22 | [High hog supplies weigh on cash hog and pork values in US
						 \| The Pig Site](https://feedsoft.ai/events/57725-high-hog-supplies-weigh-on-cash-hog-and-pork-values-in-us-the-pig-site.md) | -2.6% | -10.9% |
| HOGS | 2020-11-13 | [Pig outlook: Lean hog futures starting to trend down
						 \| The Pig Site](https://feedsoft.ai/events/50298-pig-outlook-lean-hog-futures-starting-to-trend-down-the-pig-site.md) | -2.9% | -3.8% |
| HOGS | 2020-06-30 | [Hog Futures Sink as Supply Overhang Lingers    - WSJ](https://feedsoft.ai/events/52767-hog-futures-sink-as-supply-overhang-lingers-wsj.md) | -1.2% | +14.1% |
| HOGS | 2019-06-28 | [US lean hogs rally and USDA expand herd
						 \| The Pig Site](https://feedsoft.ai/events/58741-us-lean-hogs-rally-and-usda-expand-herd-the-pig-site.md) | -3.1% | +10.4% |

## Sources

- thepigsite.com: https://www.thepigsite.com/news/2020/06/cme-update-hog-futures-dive-on-economic-concerns-and-larger-than-anticipated-supply

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.