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CME lean hog futures fell to a one-month low on Nov 14, 2017, as cash hog prices slid for a third session. Fund selling followed after contracts dropped below technical support.
December hogs closed at 59.975 cents/lb, below their 100-day moving average.
Heavy hog supplies from harvest-time marketing and faster growth on new corn put more pork into packers' hands, which pressures hog prices. Lower hog prices reduce the value of hog feed demand at the margin.
grainews.caGFM Network NewsNov 14, 2017Not 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.
