# Lean Hogs Gapped Higher and Rallied post Export Sales - IBest Media

> Lean hog futures gapped higher and rallied on Thursday after USDA's weekly Export Sales report showed record weekly pork bookings of 71,855 MT, led by Mexico, China and Japan. April hogs closed up 47 cents at $85.00 and the CME Lean Hog Index rose to $74.60.

- Date: 2024-02-16 · published 2024-02-16T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/5536-lean-hogs-gapped-higher-and-rallied-post-export-sales-ibest-media
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Strong export demand tightens domestic pork supply outlook and supports hog prices, which also lifts feed demand for corn and soybean meal from hog producers.

## Read by commodity

- SBM: neutral
- HOGS: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| HOGS | 2024-02-20 | 5 | +10.1% | 2.8 | Record weekly pork export bookings of 71,855 MT (Mexico, China, Japan) triggered a gap-higher rally in lean hog futures, a direct demand/trade-flow driver within the 5-day window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2024-02-15 | [Hog Futures Continuing Higher on Pork Purchases - IBest Media](https://feedsoft.ai/events/5538-hog-futures-continuing-higher-on-pork-purchases-ibest-media.md) | +9.6% | +10.6% |
| HOGS | 2021-04-07 | [Lean hogs gain as African Swine Flu worries open up export markets \| Financial Post](https://feedsoft.ai/events/47755-lean-hogs-gain-as-african-swine-flu-worries-open-up-export-markets-financial.md) | +2.5% | +7.8% |
| HOGS | 2023-09-05 | [CME lean hogs approach one-month high on US export outlook](https://feedsoft.ai/events/34262-cme-lean-hogs-approach-one-month-high-on-us-export-outlook.md) | -0.9% | -3.2% |
| HOGS | 2026-03-18 | [Export demand expected to push U.S. pork prices higher](https://feedsoft.ai/events/20322-export-demand-expected-to-push-u-s-pork-prices-higher.md) | -1.8% | -2.6% |
| HOGS | 2024-02-15 | [U.S. livestock: Lean hogs advance after strong US pork export data](https://feedsoft.ai/events/5539-u-s-livestock-lean-hogs-advance-after-strong-us-pork-export-data.md) | +9.6% | +10.6% |
| SBM | 2021-11-25 | [Increased soyameal and rapemeal prices resulted in lowered oilmeal exports - Benison Media](https://feedsoft.ai/events/44125-increased-soyameal-and-rapemeal-prices-resulted-in-lowered-oilmeal-exports.md) | -0.6% | +11.2% |
| SBM | 2026-07-15 | [Lysine Export Quotas Push Feed Prices Higher](https://feedsoft.ai/events/18683-lysine-export-quotas-push-feed-prices-higher.md) | +2.2% | -2.2% |
| SBM | 2025-10-29 | [India's soybean meal exports fall by 11% due to high prices - The Economic Times](https://feedsoft.ai/events/22478-india-s-soybean-meal-exports-fall-by-11-due-to-high-prices-the-economic-times.md) | +3.4% | +2.2% |

## Sources

- ibestmedia.com: https://www.ibestmedia.com/post/9962.html

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