CME update: lean hog futures close mixed at start of the month

US lean hog futures closed mixed on 2 October, with the nearby October contract supported by strong demand for pork and firm cash hog markets.
calendar icon 5 October 2020
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"I think a lot of today was nervousness over the economy and COVID," said Doug Houghton, analyst at Brock Capital Management, referring to declines in cattle futures.

The CME's lean hog index, a two-day weighted average of cash markets, climbed to $76.74 per cwt, its highest since August 2019. The US pork cutout, an indication of wholesale pork prices, was down $3.50 at $92.15 per cwt on Friday afternoon, but up from $74.54 at the start of September.

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