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CME lean hog futures fell by the exchange-imposed limit for a second consecutive session as commodities declined broadly. Index fund selling followed a Federal Reserve signal it might raise interest rates sooner than expected.
July hogs settled at 111 cents per pound and August at 107.200, both at one-month lows.
Broad commodity liquidation driven by rate-hike expectations pushes hog and feed-linked prices lower and raises the cost of carrying inventory. Feed buyers may see softer livestock demand sentiment near term.
reuters.comTom PolansekJun 17, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Back-to-back limit-down sessions through June 17 on index fund selling and Fed rate signals set a bearish tone and momentum that carried into the June 22 decline.
