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CME lean hog futures fell 2.7% on 2 March 2021 as profit-taking followed a life-of-contract high reached the prior Thursday. April live cattle recovered slightly from a five-week low, and Choice boxed beef dropped $4.35.
Traders said robust Chinese pork import demand continued to support hogs.
Profit-taking pulled hog futures lower, but strong Chinese import demand limits the downside. Hog and pork prices are likely to stay firm underneath short-term volatility.
agcanada.comAGCanadaMar 3, 2021Not 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.
