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Pig outlook: Lean hog futures market remains wobbly

US rethinks its China strategy and increased COVID-19 infections rock the industry.

20 November 2020

6 minute read

By: Jim Wyckoff

Graph showing the trade of US lean hog futures for February 2021 — Bulls are fading as prices trending lower. Bulls need to defend strong support at this week's low of $63.70 to avoid more char damage being inflicted, which would then suggest a fresh leg down in prices.
© Jim Wyckoff

Light blue binders with the words "import" and "export" on them — US pork exports have waned in recent weeks, putting pressure on futures markets.

A pork stall in a Chinese wet market — China's efforts to rebuild its pig herd after African swine fever outbreaks appears to be on course.

Container ship in between the US and Chinese flags — The United States might rethink its China strategy under a Biden administration, but Trump is in the driver's seat for now.

Jim Wyckoff

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