Loading…
USDA's FAS attaché report says Mexico has applied tariffs on $3.6 billion of US agricultural products in response to Section 232 steel and aluminum tariffs, effective immediately. Mexico also opened a 350,000 MT duty-free quota for fresh pork from non-US sources.
Tariffs on $3.6 billion of US farm goods cut US export demand, and the pork quota for non-US supply further shifts Mexican pork imports away from US hog producers, which is bearish for US hog prices.
fas.usda.govJun 8, 2018After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), 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.
