December lean hog futures fell $2.65 to $62.025, another contract low, as heavy technical selling hit the market. The CME lean hog index dropped $1.10 to $70.06 and the pork cutout fell $0.99 to $72.81.
Falling cash hog and cutout values signal weak pork demand and ample supply, pressuring hog prices and reducing demand for hog-feed ingredients.
Not 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.
December lean hogs fell $2.65 to a contract low on heavy technical selling amid falling cash hog index and cutout, directly driving the 5-day decline.
December hogs fell $2.65 to a contract-low close on heavy technical selling with falling index and cutout, a key leg of the decline.
Dec lean hogs fell $2.65 to a contract low on Oct 27 on heavy technical selling while the cutout and CME index declined, directly describing the move.