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US lean hog futures extended a steep decline in late June 2021, with the market technically oversold. USDA's cold storage report showed frozen pork stocks up 0.9% from April, pointing to slower pork exports, and the July contract traded at a wide discount to the CME lean hog index.
Slowing export demand and rising supplies keep downward pressure on hog prices, reducing the incentive for producers to hold or expand herds and lowering near-term feed demand.
thepigsite.comSarah MikesellJun 25, 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.
