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CME lean hog futures fell sharply on June 23, 2021, with the front-month July contract down 2.8% to its lowest in over two months as weak cash pork prices pressured the market. The USDA pork cutout fell $8.91 to $110.33, and packer losses widened to $60.23 per head.
Lower cash and cutout values pull down hog futures and squeeze processor margins, which can reduce packer demand for hogs and weigh on feed-grain demand from the hog sector.
financialpost.comReutersJun 23, 2021Not 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.
