CME update: lean hog futures settle lower on market uncertainty
CME lean hog futures sank on 12 August on shaky export and slaughter data.
13 August 2020
2 minute read
By: Reuters reports that CME lean hogs settled 0.225 cent lower on 12 August, finishing the day at 51.600 cents per pound.
On 13 August, traders will check the weekly US export sales data from the USDA to assess demand from China, the world’s leading pork consumer.
In its monthly report issued on 12 August, the USDA cut its pork production forecast due to lighter carcass weights and a slower than expected slaughter pace for the third quarter.
