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US lean hog futures rallied sharply on May 1, with several contracts closing at the daily limit on technical buying after a prior drop of more than 10%. Traders awaited USDA weekly export sales data for confirmation of Chinese purchases following US-China trade talks in Beijing.
Hopes for Chinese pork purchases and a technical rebound lifted hog futures, though the rally depends on confirmed export sales.
thepigsite.comEmily HoughtonMay 2, 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.
