Lean Hog Commentary
Higher trade was expected today but it is likely few were discussing limit up action. From the low in futures, posted on the 21st, October has rallied almost $5. Note that October and December futures at this time are typically only trying to figure out how low prices will be for their separate expiration dates. The latest Lean Hog Index, the measure of cash hog prices that futures are settled against, is 97.56. Today’s October futures settlement is almost $1 higher than that…
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