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CME lean hog futures fell as concerns grew over seasonal supply increases hurting cash prices and curbing retail pork demand. Live cattle contracts also weakened as investors sold April futures in anticipation of softer cash prices.
Cash hogs in Iowa and Minnesota averaged 62.19 dollars per cwt.
Seasonal supply growth and fund selling push hog and cattle futures lower, which squeezes feeder buyers' margins. Softer pork demand around Easter adds further downside pressure.
country-guide.caTheopolis WatersApr 3, 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.
