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Lean hog futures fell sharply on August 16 after pork belly prices dropped 15.54 cents to $1.8059 per pound. The October hog contract fell 2.5% to its lowest close in over three months, and live cattle also fell on weaker cash prices.
A sharp drop in pork bellies signals weaker pork demand and rising supplies, which pressures hog prices and reduces hog producers' appetite for feed.
foxbusiness.comBenjamin ParkinAug 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.
