CME update: lean hog futures regain their footing
US lean hog futures rose on 19 August after posting their largest drop in nearly two months.
20 August 2020
2 minute read
By: Reuters reports that CME lean hog futures recorded their biggest drop in two months on 19 August before stabilising.
CME October lean hog futures settled 1.125 cents higher at 52.550 cents per pound.
Alan Brugler, president of Brugler Marketing, explained to Reuters, “…carcass weights are coming down, but we also know the fall runs are going to start hitting us pretty soon. So we better be current on slaughter or we'll have trouble getting them all through the plants."
Hog slaughter rates continue ahead of last year's pace, with 484,000 head processed on Wednesday 19 August.
