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December lean hog futures finished up 2.3 cents at 72.4 cents per pound on the CME and hit their highest level since Sept. 16.
The move followed talk of Chinese buying of US pork.
Expected Chinese purchases of US pork support export demand and lift hog futures. Hog prices depend on whether those purchases actually materialize.
reuters.comTom PolansekSep 25, 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.
