
December lean hog futures fell $0.70 to $58.175 and hit another contract low on Monday. The CME lean hog index fell to $66.57 and the national cash average to $59.44, while pork cutout rose $2.36 to $72.46.
Lower hog prices reduce the value of finished animals and signal weaker demand for hog feed, which is a bearish signal for feed buyers' hog-sector customers. Feed buyers are advised to cover soymeal needs as prices may dip on fall harvest pressure.
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.