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CME lean hog futures climbed to a five-week high on May 29, extending a four-session rally on technical buying and higher cash hog and pork prices. Wholesale pork rose on the morning report, and warm weekend weather supported outdoor cooking demand.
Stronger pork cutout and cash hog prices lift hog values, though the gain is largely technical and short-lived without a new supply cause.
grainews.caMichael Hirtzer, GFM Network NewsMay 29, 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.
