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Lean hog futures fell to their lowest in more than a week on September 20 after a Chinese agriculture delegation cancelled planned US farm visits. Cattle and soybeans also came under pressure, and USDA reported lower-than-expected August cattle placements.
Cancelled trade visits signal the trade dispute may last longer, which weighs on US pork export expectations and hog prices.
agcanada.comAGCanadaSep 20, 2019After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
