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The CME lean hog index rose 9 cents midweek, ending a nine-day slide in the cash index. USDA reported US pork net sales of 24,000 MT for 2022, with exports of 31,800 MT led by Mexico, Japan and China.
Early signs of a cash bottom and steady export demand could support hog prices, though the market needs several more days of gains to confirm a low.
thepigsite.comSarah MikesellApr 15, 2022Not 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.
The cash index ended a nine-day slide and futures recovered, signaling a sentiment and cash-price turnaround that fed the rebound.
It reports the cash index ending a nine-day slide and futures recovering, which supports a rebound and short-covering setup before the 4/18 jump.
