CME update: US lean hog futures close lower amid demand worries

US lean hog futures closed mostly lower on 1 July as traders noted plentiful hog supplies and growing concerns about stalling Chinese demand for US pork.

2 July 2020, at 10:59am

Reuters reports that despite these pressures, the benchmark August hog contract eked out a fractionally higher close on technical buying.

CME August lean hogs settled up 0.050 cent at 49.075 cents per pound while October hogs ended down 1.075 cents at 48.275 cents per pound.

Traders await Thursday's weekly USDA export sales report to monitor US pork sales to China.

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