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CME July lean hog futures fell by the 4.5-cent daily limit on June 24, 2021, to their lowest since late March. USDA reported the June 1 hog herd at 98% of the prior year, slightly above the 97.7% analysts expected, and weekly pork export sales fell.
A herd larger than expected and softer export sales signal more near-term pork supply, pressuring hog prices and processor margins, with limited direct impact on feed demand beyond the hog sector.
grainews.caMark Weinraub, GFM Network NewsJun 25, 2021After 159 past bearish report events, HOGS moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
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.
