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Lean hog futures extended gains to a seven-month high on Thursday, with the front-month February contract hitting a lifetime high before settling higher. Packers were earning strong margins as demand for pork supported the market, while cattle futures rebounded from multiweek lows on short covering.
Strong packer demand and firm hog values support hog prices and feed demand for hog rations, while the cattle rebound is a short-term move for feeder buyers.
agcanada.comAGCanadaFeb 2, 2017Not enough comparable past events yet for a historical read.
Not 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.
