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Hog futures neared a one-year high above 80 cents per pound as meatpackers bought ahead of the grilling season and Father's Day, with hot weather expected to slow hog weight gain. Mexico threatened a 20 percent tariff on U.S. pork in response to possible U.S. steel and aluminum tariffs.
Corn and soybean prices fell to four-month lows on good weather.
Threatened retaliatory tariffs from Mexico, the largest buyer of U.S. pork, could cut export demand and pressure hog prices. Good crop weather is weighing on grain prices.
greeleytribune.comAlex BeitingerJun 9, 2018After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
