CME update: lean hog futures edge higher as market fundamentals improve
US lean hog futures gained ground on 27 August as technical factors buoyed prices.
28 August 2020
2 minute read
By: Reuters reports that CME October lean hogs rose 0.175 cent to close at 55.725 cents per pound.
Traders watched the USDA weekly export sales report, which showed China buying 11,216 tonnes of US pork last week. The is the largest purchase of US pork China has made in a month.
The daily slaughter rate remained unchanged on 27 August. The USDA logged the daily hog slaughter at 482,000 head.
