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The CME lean hog contracts closed at new contract highs on May 30, with June up about $30 per hog since April 21. Pork cutout values were around $90.79 per pound, supported by strong domestic and export demand despite record seasonal production.
Strong pork cutout values and demand are pulling hog futures higher, and the commentary expects further gains as seasonal hog supplies decline. Feed buyers should watch for continued strength in hog-related feed demand.
thepigsite.comGlobal Ag MediaMay 29, 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.
