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CME lean hog futures finished lower on May 11 as funds rolled June contracts into August and traders worried about NAFTA talks. Mexico's economy minister said his country would not rush a NAFTA revamp, and U.S. pork exports to Mexico were valued at $371.3 million in January through March.
Uncertainty over NAFTA threatens Mexico, the top U.S. pork market, so the risk to export demand is bearish for hog prices.
agcanada.comAGCanadaMay 11, 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.
