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April lean hog futures closed at 70.75 cents per pound on Friday, up from 56 cents in October. Strong pork demand, led by high bellies values, has packers and producers profitable, and an analyst expects further gains as new packing capacity in the Midwest increases competition for hogs.
Improved producer returns support herd expansion and hog feed demand, while new packing capacity points to firmer hog prices ahead.
thepigsite.comGlobal Ag MediaFeb 22, 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.
