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FreightWaves' monthly update covers Hurricane Florence flooding in North Carolina freight markets. It notes lean hog futures rose 15% in September because flooding hit a concentrated hog-production area.
The update also discusses the IMO 2020 fuel rule and its effect on marine diesel demand.
Lost hog supply in North Carolina tightens pork supply and supports lean hog prices. Flooding disrupts feed deliveries to the affected region.
freightwaves.comJohn Paul HampsteadSep 19, 2018After 16 past logistics events, Lean Hogs moved a median +1.3% over 5 sessions (56% higher; middle half -1.6% to +3.0%), and -6.0% over 20.
After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% 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.
