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CME lean hog futures fell on technical selling and profit-taking, reaching their lowest level in more than a week. October hogs dropped by the daily 3-cent limit after climbing more than 20% from early July.
Traders are still waiting for Chinese purchases to materialize.
The decline reflects a technical correction after a sharp rally, and prices will likely stay sensitive to any confirmed Chinese pork buying.
thepigsite.comEmily HoughtonJul 30, 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.
