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US lean hog futures rose to their highest level since November 19 after China said it would waive import tariffs on some US soybean and pork shipments. Industry sources said the waivers could cover up to 10 million tonnes of soybeans and an unknown volume of pork.
Tariff waivers raise the chance of higher US pork and soybean sales to China, though buying interest in hogs faded quickly and rival suppliers still hold a tariff advantage.
thepigsite.comEmily HoughtonDec 9, 2019After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% over 20.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
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.
