12 January 2025
1 minute learn
Close by lean hog futures this week hit a three-month low and bears stay in technical management amid a value downtrend in place on the each day bar chart for February futures. Oversold technical situations might restrict promoting stress this remainder of this week. The contemporary pork market has rebounded amid strong shopper demand for pork. The most recent CME lean hog index fell one other 42 cents to $81.59 as of Jan. 6, for the seventh consecutive each day decline. Whereas the index is making new lows, each day drops are lower than what was seen late final week and earlier this week, which is probably going encouraging merchants to slim futures’ reductions to the money market.
Newest USDA and different information relating to the worldwide pork trade
NWS larvae infest open wounds, feeding on dwelling livestock tissue
That is posing extreme dangers to livestock, wildlife, and people. USDA is sustaining heightened biosecurity measures to forestall the reintroduction of this pest, eradicated within the U.S. in 1966, whereas educating stakeholders about detection and prevention methods.
The following week’s seemingly high-low value buying and selling ranges:
February lean hog futures–$77.00 to 82.00 and with a sideways-lower bias
March soybean meal futures–$285.10 to $315.00, and with a sideways bias
March corn futures–$4.50 to $4.70 and a sideways-higher bias
Newest analytical each day charts lean hog, soybean meal and corn futures:
