Global pig outlook: Lean hog futures bulls continue to fade

Published 2024년 12월 20일

Tridge summary

The article provides an overview of the current trends in the lean hog futures market, highlighting the recent decrease in prices despite the rise in the CME lean hog index. It notes that cash hog market fundamentals may limit the decline in futures prices. The article also reports on the dynamics of pork sales and exports, pointing out fluctuations in net sales and exports to various countries. Additionally, it discusses the implications of China's pork import data for the market, alongside the current and forecasted prices for hogs and other agricultural commodities such as soybean meal and corn, which are also experiencing sideways-lower trends in futures prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

February lean hog futures prices are trending down on the daily bar chart. However, improving cash hog market fundamentals could limit the downside in the near term. The latest CME lean hog index is up another 18 cents to $84.16 as of Dec. 17, the fourth gain in the last six days. While the net gain during that span is only 84 cents, the index is showing signs of a potential seasonal bottom. Pork cutout was up $1.58 to $96.35 Wednesday, a fresh for-the-move high. Pork: Net sales of 11,200 MT for 2024 were down 50 percent from the previous week and 52 percent from the prior 4-week average. Increases primarily for Mexico (2,800 MT, including decreases of 300 MT), Japan (2,300 MT, including decreases of 500 MT), Canada (2,100 MT, including decreases of 1,100 MT), South Korea (1,300 MT), and China (900 MT, including decreases of 200 MT), were offset by reductions for Colombia (100 MT) and Hong Kong (100 MT). Net sales of 5,800 MT for 2025 primarily for South Korea (2,100 MT), ...

Source: Thepigsite