CME update: lean hog futures rise on bargain buying
US lean hog futures rose on 15 January on some bargain buying, but futures had posted lower closes in seven of the previous eight sessions.Reuters reports that signs of weakness in the cash markets kept a lid on the gains.
Chicago Mercantile Exchange (CME) February lean hogs rose 1.625 cents to 67.925 cents per pound.
The contract, which fell 1.1 percent this week, rose above its 20-day, 30-day, 40-day and 50-day moving averages during the session.