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US lean hog futures closed higher on Friday, rising more than 1% on speculative buying tied to hopes for pork sales to China after a 90-day trade truce. The White House said Beijing pledged to immediately buy US farm products, a list expected to include pork.
Expected Chinese purchases of US pork would support export demand and hog prices, though China's African swine fever losses are also shaping its import needs.
reuters.comKarl PlumeDec 7, 2018After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% over 20.
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.
