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Traders are shifting focus from the quarterly Hogs and Pigs report to demand after the report matched pre-release expectations. The herd is up 4% from last year, and analysts expect pork product prices and exports to be the main concern as COVID-19 affects jobs and incomes.
Attention on weakening pork demand suggests hog prices may stay under pressure despite a report that was in line with expectations.
rrfn.comDon WickMar 27, 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.
