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Lean hog and cattle futures traded sideways on Monday after a losing week. December lean hogs fell 0.3% to 62.3 cents/lb, and cash hog prices had dropped almost 10% from a late October peak.
Packers slowed slaughter, creating a backlog of hogs that producers had to sell at a discount.
Lower cash prices and a backlog of market-ready hogs weigh on futures, while slower kills help packer margins and may limit further declines.
foxbusiness.comBenjamin ParkinNov 13, 2017Not enough comparable past events yet for a historical read.
Not 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.
