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U.S. lean hog futures rose 3.6% on Tuesday after cash prices in Iowa and Minnesota gained more than $2 since the prior Wednesday. China's agriculture ministry said its frozen pork reserves are ample and will help contain prices ahead of the Lunar New Year.
Firmer cash hog prices suggest a seasonal bottom, but Chinese reserve stocks limit how much export demand can lift U.S. prices.
manitobacooperator.caGFM Network News, Mark WeinraubDec 3, 2019Not 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.
