CME update: lean hog futures fell, closely aligning with the cash market index
US lean hog futures fell on 19 January as strong slaughter rates keeps market supplies abundant.
20 January 2021
3 minute read
By: Reuters reports that lean hog futures declined after gaining on Friday 15 January as futures look to converge with lower cash index.
The most-active CME April lean hogs fell 1.225 cents to 71.425 cents per pound, while the spot February contract fell 1.450 cents to end at 66.475 cents per pound.
The CME lean hog index is 0.91 cent under the February contract at 65.56 cents per pound.
Tuesday saw 498,000 hogs slaughtered, up 2,000 from a year ago and even with the same time last week.
