# OI Sharply Higher on Hog Rally - Archer Financial Services

> Lean hog futures rallied sharply as open interest surged after weekly pork export data showed large purchases by Mexico and China. Analysts questioned whether the data was accurate or reflected catch-up reporting from previous weeks.

- Date: 2024-02-16 · published 2024-02-16T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/5537-oi-sharply-higher-on-hog-rally-archer-financial-services
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Export-driven demand and uncertainty over the data are pushing hog futures higher, with bearish producers facing losses on hedges and possible volatility ahead.

## Read by commodity

- HOGS: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| HOGS | 2024-02-20 | 5 | +10.1% | 2.8 | Open interest surged on the hog rally on the export data, signaling new buying; analyst doubts about the data add some uncertainty. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2018-08-27 | [Hog, cattle futures sharply higher on news of trade deal - Brownfield Ag News](https://feedsoft.ai/events/63477-hog-cattle-futures-sharply-higher-on-news-of-trade-deal-brownfield-ag-news.md) | -3.6% | +17.2% |
| HOGS | 2019-08-29 | [U.S. hog futures top one-week highs on China trade hopes \| Financial Post](https://feedsoft.ai/events/57717-u-s-hog-futures-top-one-week-highs-on-china-trade-hopes-financial-post.md) | -0.9% | -8.2% |
| HOGS | 2020-02-13 | [U.S. lean hog futures edge up on hopes for Chinese demand \| Financial Post](https://feedsoft.ai/events/54745-u-s-lean-hog-futures-edge-up-on-hopes-for-chinese-demand-financial-post.md) | +11.2% | +9.5% |
| HOGS | 2020-02-06 | [U.S. hog futures soar daily limit on Tyson comment on China demand, short-covering \| Financial Post](https://feedsoft.ai/events/54746-u-s-hog-futures-soar-daily-limit-on-tyson-comment-on-china-demand-short.md) | -4.0% | +4.3% |
| 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% |

## Sources

- archerfinancials.com: https://www.archerfinancials.com/oi-sharply-higher-on-hog-rally/

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