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CME lean hog futures hit the daily limit and approached a one-month high after hopes rose that China will boost US pork imports. China confirmed a new African swine fever outbreak in Sichuan, and it has reported more than 140 outbreaks.
Chinese pork prices have recently increased, and Chinese imports of US pork have so far fallen short.
Expectations of a Chinese buying program support US hog prices, which rely on large Chinese purchases to clear excess domestic inventories.
thepigsite.comEmily HoughtonJul 18, 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.
