CME update: hog futures climb higher on strengthening demand

US lean hog futures rose on 26 April as traders anticipate strong demand and tight supplies heading into the summer.

27 April 2021, at 9:18am

Reuters reports that CME June lean hogs gained 1.125 cents to 106.850 cents per pound.

The CME's lean hog index, a two-day weighted average of cash prices, climbed to $106.51 per cwt, its highest since October 2014.

Speaking to Reuters about the restricted supplies and strengthening demand, Alan Brugler, president of Brugler Marketing said:

"You’re drawing down against current production, you don’t have any cushion in the cold storage and we’re going to get into the time period when we don’t have as large of a slaughter.”

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