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US lean hog futures touched a two-month low on Nov 15 as packers increased slaughter to capture high margins. USDA projected 2.75 million pigs slaughtered that week, and US net pork sales to China hit a one-month high, though Chinese tariffs still hamper sales.
Heavy hog slaughter and large supplies are pushing hog prices lower, reducing near-term incentive for producers to expand feed purchases.
agcanada.comAGCanadaNov 16, 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.
