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Chicago lean hog futures fell as much as 5 percent on November 8 under pressure from abundant supplies and weaker Midwest cash hog prices. US pork exports to Mexico and China have declined, leaving more pork for the domestic market, while analysts had expected African swine fever in China to increase pork imports.
Heavy domestic pork supplies and lost export demand weigh on hog prices, and the expected China import boost from African swine fever has not yet materialized. This keeps hog prices under pressure.
thepigsite.comGlobal Ag MediaNov 8, 2018Not 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.
