CME update: lean hog futures drop after two days of gains

US lean hog futures retreated on 10 December, but prices remain range-bound.
calendar icon 11 December 2020
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Reuters reports that US lean hog futures reversed two days of gains on 10 December.

Benchmark CME February lean hogs fell 1.175 cents to 65.100 cents per pound. The contract broke through chart support at its 100-day moving average and closed below the key technical level.

The composite pork carcass cut-out rose 83 cents on Thursday to $78.43 per cwt, holding within a roughly $3.50 range since mid-November.

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