CME update: hog futures jump as export demand looks strong
US lean hog futures rose on 2 September, overcoming pressure from lax domestic demand.
3 September 2020
2 minute read
By: Reuters reports that CME lean hog futures jumped 1.375 cents to 56.400 cents per pound.
On Thursday 3 September, traders will review weekly US export sales data to assess pork demand from China, the world’s top pork consumer. Outbreaks of the deadly pig disease African swine fever have devastate China’s hog herd over the past two years. China has ramped up imports to make up for the domestic shortfall.
Soaring prices for corn - critical for China's mammoth hog, dairy and poultry sectors - are stoking food security jitters in China.
