Hogs Rally on Firm Cash Markets: Hog futures extended weekly gains on Tuesday, supported by wide discounts to the cash index and technical buying. August hogs traded to within $3 of the hog index while October closed above the contract’s 50-day moving average. Last week, the Personal Income report showed disposable per capita income for…
Hogs Rally on Firm Cash Markets: Hog futures were higher to start the week on firm cash markets and technical buying. October hogs fell back to the 100-day moving average late last week, which offered support on Monday. CME cash hog and pork indexes were firm to start the week. The lean hog index gained…
CME Hog Futures Fall on Topping Cutout Value: Seasonal price trends bearish; Hog futures continued their fall on Friday to finish the month of July lower. The attached monthly chart offers a topping signal following the bearish reversal of June. The US National Direct afternoon Hog Report showed a drop of $.88 with a weighted…
CME Hog Futures ease on technical selling and leftover selling from Wednesday; Seasonal price trends now bearish into December; Hog futures leaked lower with cutout values likely to accelerate a seasonal decline in coming weeks. The belly value at $297/cwt is unlikely to be sustained with the cutout today down $1.10 to $123.87. Thursday’s kill…
CME Hog Futures Drop Sharply on China’s Pork Supply/Promised Gov’t Support: Hog futures fell to sharp losses following news that China was prepared to support their domestic producers with reserve purchases of pork and economic incentives. The news indicated that China’s Gov’t was willing to maintain growth in China’s hog herd to assure itself of future…
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