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Livestock futures closed higher on expectations of strong meat demand after a report showed a larger-than-expected drawdown in cold storage meat stocks. Lean hog futures for May rose 1.3% and live cattle gained 0.6%.
Lower pork cold storage stocks and strong China pork import demand support hog prices, while seasonal slaughter declines add to the bullish case. Feed buyers should note firmer meat values but a USDA forecast of higher pork output limits upside.
foxbusiness.comJulie WernauApr 25, 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.
