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President Trump announced 25% tariffs on Canada and Mexico starting February 1, causing a weak open in lean hogs before rumors of a delay caused a rebound that was then denied. Hogs settled near the session low, and the cattle inventory report also added volatility.
Tariffs on Canadian and Mexican imports threaten US pork exports, particularly to Mexico, which could pressure hog prices unless the tariffs are lifted.
theglobeandmail.comBen DiCostanzoJan 31, 2025After 123 past bearish trade events, HOGS moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% over 20.
After 65 past neutral trade events, LCATTLE moved a median +0.3% over 5 sessions (57% higher; middle half -0.5% to +1.4%), and +2.5% 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.
