Lean hog futures pushed to new contract and multi-year lows, with December hogs trading near $62.575. The CME lean hog index fell to $70.06 and the pork cutout dropped 29 cents to $73.80.
Persistent selling in hog futures and cash indices points to weaker hog prices, which reduces the economic appetite for hog feed purchases.
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.
Lean hogs pushed to new contract and multi-year lows on relentless technical selling as cash index and cutout weakened, directly driving the 5-day drop ending Oct 27.
Relentless selling pushed hogs to multi-year lows as the CME index and pork cutout kept falling, reflecting weak cash fundamentals.
Relentless selling pushed hogs to contract and multi-year lows on Oct 27 with the cutout and CME index lower.