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CME Hog Futures Climb Ahead of USDA Report

  • 30 Jun 13:03

Chicago Mercantile Exchange lean hog futures settled higher on Thursday, and the July contract notched fresh highs, supported by their discounts to cash prices and fund buying prior to the U.S. Department of Agriculture's neutral quarterly hog report, said traders. The USDA's report showed a record number of hogs for the March-May period, but the results were within analysts' forecasts. July ended 1.550 cents per pound higher at 89.475 cents, and hit a fresh high of 89.650 cents. August finished 1.275 cents higher at 80.750 cents, and above the 20-day moving average of 80.378 cents. Hog futures received an added boost from surprising cash price. Read more...