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.Reuters reports that October lean hogs rose 0.350 cent at 74.500 cents per pound, while most-active hogs ended down 0.350 cent at 62.500 cents.
The mixed day of trading came amid a larger sag in global financial markets after President Donald Trump tested positive for COVID-19. The announcement fuelled investor uncertainty, leading to a dip in the day’s trading.

"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.