CME update: lean hog futures hit their highest point since August 2019

US hog futures rose to their highest in more than a year on 8 October as consumer demand for pork remains steady despite cooler weather.
calendar icon 9 October 2020
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The US Agriculture Department said that weekly pork export sales totalled 40,800 tonnes, up from 38,100 tonnes a week earlier.

The US pork cut-out, an indication of wholesale pork prices, was reported at $95.36 per cwt on the afternoon of 8 October, up 18 cents from 7 October, according to the US Department of Agriculture.

Chicago Mercantile Exchange October lean hogs advanced 0.475 cent to close at 77.35 cents per pound. On a continuous basis, the front-month contract hit its highest since 14 August, 2019.

Most-active December hogs settled up 2.275 cents at 66.85 cents.

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