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Columnist Dennis Smith says lean hog futures rallied about 660 points in three sessions to Aug. 20 after trading at deep discounts to cash in July.
He attributes the move to NAFTA talks, upcoming US-China trade talks, and the discovery of African swine fever in China rather than a change in near-term fundamentals.
The rally reflects expectations that trade and disease developments could change longer-term hog supply and demand, which keeps feed buyers exposed to volatile hog price swings.
nationalhogfarmer.comDennis SmithAug 27, 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.
