CME update: hog futures close lower as pork prices fall

US lean hog futures fell on 30 July, pressured by softening cash hog values and falling prices for pork products and hams.
calendar icon 31 July 2020
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CME October lean hog futures settled down 1.500 cents at 48.325 cents per pound.

Traders shrugged off strong weekly pork export data. The USDA reported export sales of 2020 US pork in the week to 23 July at 39,600 tonnes, up 12 percent from the prior four-week average. Sales to top global buyer China totalled 17,800 tonnes and pork shipments to China totalled 10,200 tonnes.

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