CME update: US hog futures ease, but demand keeps traders’ hopes high

US hog futures were weaker over the trading day on 21 October, but declines were limited as pork demand is expected to remain strong.
calendar icon 22 October 2020
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The contract found support at its 10-day moving average for the second day in a row. It has not traded below that key technical point since 6 October.

Pork supplies during the upcoming Lunar New Year holiday in China, the world's top consumer, will be 30 percent higher than a year ago, an agriculture official said on Wednesday 21 October, after significant efforts to rebuild a depleted hog herd.

German pig prices were unchanged this week at €1.27 a kg, the association of German animal farmers VEZG said on 21 October, despite import bans by Asian countries after African swine fever was found in the country.

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