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CME lean hog futures closed higher for a second session on hopes that US-China trade talks could boost US pork exports. The December contract settled near technical resistance at its 100-day moving average.
China's pork prices were reported surging amid a supply shortfall.
Expectations of stronger Chinese pork demand support US hog prices. The move remains sentiment-driven until export sales confirm it.
reuters.comJulie IngwersenOct 9, 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.
