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CME lean hog futures settled higher on August 4 as buyers saw futures undervalued against cash prices. The USDA projected the week's hog slaughter at 2.25 million head, up 11,000 from the prior week.
Rising slaughter and seasonal hog supply add pressure to hog prices, but futures bargain buying limited losses that day, leaving feed demand little changed.
reuters.comAug 4, 2017Not 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.
