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Lean hog futures rebounded on Nov 21 after a six-session sell-off, closing higher as USDA reported strong weekly pork export sales including sales to China. Chinese officials also said Beijing was willing to work with the US on core trade concerns, though reports suggested a phase one trade deal could slip into 2020.
Hog prices remain tied to China export prospects, and pork export demand supports slaughter and feed use, though the gain was viewed as a technical bounce.
grainews.caGFM Network NewsNov 21, 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.
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.
