CME update: lean hog futures fall for a third straight session
US lean hog futures fell on 29 October as Chinese demand weakens.
30 October 2020
2 minute read
By: Reuters reports that the fall in hog futures can be attributed to softening wholesale pork prices and lacklustre demand from China.
CME December lean hogs futures ended down 0.750 cent at 65.625 cents per pound.
The USDA reported export sales of US 2020 pork in the week ended 22 October at 29,000 tonnes, but sales to China were underwhelming at 2,500 tonnes, the second-smallest tally since August.
