Lean hog futures are rallying into the end of August trade, up about $1.45 to $1.85 by midday. This is tempered by fundamentals showing weakness—USDA’s national base hog price is $88.65 (down $1 vs. prior day) and the CME Lean Hog Index is down another 62 cents—suggesting the move may be more technical than fundamental.
Lean hog futures are rallying into the end of August trade, up about $1.45 to $1.85 by midday. This is tempered by fundamentals showing weakness—USDA’s national base hog price is $88.65 (down $1 vs. prior day) and the CME Lean Hog Index is down another 62 cents—suggesting the move may be more technical than fundamental.
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mildly positive
Sentiment Score
0.15
