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CME December lean hog futures rose to a two-month high as cash hog prices climbed on strong demand from expanded pork processing capacity. Two new slaughterhouses in Iowa and Michigan have boosted hog demand.
Live cattle futures were narrowly lower ahead of the USDA Cattle on Feed report.
Higher hog prices driven by expanded slaughter capacity improve producer margins and can support hog feed demand, while steady cattle prices keep feedlot demand stable.
grainews.caMichael Hirtzer, GFM Network NewsOct 16, 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.
