CME update: lean hog futures push ahead on optimistic export prospects

US lean hog futures closed higher on 11 September for a second straight session on expectations of increased export demand for US pork.
calendar icon 14 September 2020
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Germany's agriculture ministry said on Friday 11 September that its exports to China, the world's top pork consumer, had stopped. South Korea has also banned German pork.

"That leaves Brazil and the United States best positioned to get that business," said Arlan Suderman, chief commodities economist for StoneX.

Meanwhile, America's capacity to process hogs into pork and cattle into beef is being limited by efforts to physically separate meat-packing workers in plants to lower the risks of spreading COVID-19, analysts said.

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