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Hurricane Florence made landfall in North Carolina as a Category 1 storm, causing heavy flooding and reported breaches of hog waste lagoons, with at least eight overflowing. Lean hog futures had gained 15% since August 30 to 55.38 cents per pound, and African swine fever in China added supply uncertainty.
Flood damage to North Carolina hog operations and processing tightens near-term hog supply and supports lean hog prices, with ASF in China adding longer-term export demand uncertainty.
freightwaves.comJohn Paul HampsteadSep 18, 2018After 12 past bullish weather events, HOGS moved a median +1.5% over 5 sessions (58% higher; middle half -1.6% to +7.1%), and -3.9% 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.
