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Lean hog futures sold off sharply the week of March 20 in what an analyst calls a likely washout that could mark a market bottom. Pork demand remained firm and meat cases were sparsely stocked, while China planned to auction 20,000 MT of frozen state-reserve pork.
Prices that already reflect a severe demand collapse and steady retail buying could support hog futures if processing continues.
thepigsite.comEmily HoughtonMar 20, 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.
