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CME update: lean hog futures weaken despite positive export numbers

US hog futures closed lower on 17 December despite signs of strong pork exports and firm demand from China.

18 December 2020, at 8:14am

Reuters reports that CME February lean hogs fell 0.475 cent to settle at 65.5 cents per pound.

The USDA on Thursday morning reported that weekly pork export sales rose to 84,200 tonnes from 32,900 tonnes. The weekly total was the biggest since November 2019.

China accounted for 37,700 tonnes, including 26,100 tonnes booked for the next marketing year. The total was the biggest to China since the end of April.

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