# CME hog, cattle futures climb on U.S-China trade news

> CME lean hog futures rose on Friday after the US and China announced a phase one trade agreement, with hopes it would lift Chinese purchases of US pork. The February contract settled up 0.85 cent at 69.50 cents per pound, about 2 cents below its session high, as traders struggled with the deal's details. Commodity funds held a net short position in lean hogs.

- Date: 2019-12-13 · published 2019-12-13T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/6399-cme-hog-cattle-futures-climb-on-u-s-china-trade-news
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Expected Chinese pork demand supports hog prices, but uncertain details and plentiful US hog and pork supplies limit the upside.

## Read by commodity

- HOGS: bullish ▲
- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| HOGS | 2019-12-16 | 1 | +7.5% | 5.1 | The US-China phase one deal announced Dec 13 raised hopes for Chinese pork purchases, triggering the demand and trade-flow repricing in hogs that carried into the Dec 16 session. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2018-08-27 | [Hog, cattle futures sharply higher on news of trade deal - Brownfield Ag News](https://feedsoft.ai/events/63477-hog-cattle-futures-sharply-higher-on-news-of-trade-deal-brownfield-ag-news.md) | -3.6% | +17.2% |
| HOGS | 2019-08-29 | [U.S. hog futures top one-week highs on China trade hopes \| Financial Post](https://feedsoft.ai/events/57717-u-s-hog-futures-top-one-week-highs-on-china-trade-hopes-financial-post.md) | -0.9% | -8.2% |
| HOGS | 2020-11-05 | [U.S. livestock: Cattle futures up on firm cash, export hopes - Grainews](https://feedsoft.ai/events/7937-u-s-livestock-cattle-futures-up-on-firm-cash-export-hopes-grainews.md) | -1.0% | -2.7% |
| HOGS | 2020-01-23 | [Big wins on trade could mean big things for cattle and hog prices - Brownfield Ag News](https://feedsoft.ai/events/55229-big-wins-on-trade-could-mean-big-things-for-cattle-and-hog-prices-brownfield-ag.md) | -1.9% | -3.3% |
| HOGS | 2018-12-07 | [CME lean hogs rebound, market eyes U.S.-China trade talks](https://feedsoft.ai/events/61688-cme-lean-hogs-rebound-market-eyes-u-s-china-trade-talks.md) | -0.3% | +6.3% |
| LCATTLE | 2018-08-27 | [Hog, cattle futures sharply higher on news of trade deal - Brownfield Ag News](https://feedsoft.ai/events/63477-hog-cattle-futures-sharply-higher-on-news-of-trade-deal-brownfield-ag-news.md) | -0.1% | +3.5% |
| LCATTLE | 2018-04-04 | [Cattle futures shrug off China tariff news - Brownfield Ag News](https://feedsoft.ai/events/10068-cattle-futures-shrug-off-china-tariff-news-brownfield-ag-news.md) | -1.4% | -1.7% |
| LCATTLE | 2018-07-18 | [U.S. livestock: CME cattle rise but hog futures weaken - Grainews](https://feedsoft.ai/events/5215-u-s-livestock-cme-cattle-rise-but-hog-futures-weaken-grainews.md) | +1.7% | +0.9% |

## Sources

- reuters.com: https://www.reuters.com/article/usa-livestock-idUSL1N28N1WQ/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.