Hog is holding steady amid the Dow and Bitcoin plunging.

Discussion in 'Commodity Futures' started by tayte, May 21, 2021.

  1. tayte

    tayte

    https://agfax.com/2021/05/21/dtn-li...gs-rally-amid-follow-through-consumer-demand/

    So looks like investors are dumping crypto and stocks for pork today,

    "
    The confidence stemming from stronger pork cutout values is helping move the lean hog complex higher into Friday afternoon trade. June lean hogs are up $1.50 at $113.77, July lean hogs are up $2.90 at $116.47 and August lean hogs are up $2.25 at $111.57.

    The market stands a good chance at closing higher before heading into the weekend. But, again, the market will be challenged next week as traders will need to see follow-through buying support from consumers before they rally the board.

    The projected CME Lean Hog Index for 5/20/2021 is up $0.02 at $111.43 and the actual index for 5/19/2021 is down $0.19 at $111.41. Hog prices are lower on the National Direct Morning Hog Report, down $0.72 with a weighted average of $105.80, ranging from $101.68 to $116.00 on 2,660 head and a five-day rolling average of $107.02.

    Pork cutouts total 229.24 loads with 211.02 loads of pork cuts and 18.22 loads of trim. Pork cutout values: up $3.03, $122.25.
    "
     
  2. should not this be under commodities (agfax...)
     
  3. People still have to eat.
     
    tayte likes this.
  4. kmiklas

    kmiklas

    jys78 likes this.
  5. Wait till they get a load of my hog lolol...
     
    tayte likes this.