China’s Culling a Boon to the Pork Industry: Hog Futures

Hog futures should be finding solid support as news of China’s culling of their sow hog-herd by 19% is predicted to provide support to the global pork industry for some time to come. Hog futures are actually down .20 cents per pound today currently trading at $68.95 (CWT) at the Chicago Mercantile Exchange.

The culling of the Chinese herd over the past year and a half has been recognized as one of the biggest in history and, get this, said to be equivalent to the loss of the more recent Canadian, Mexican, and US herd culling – combined! The effect of this action in China is now apparent in the global pork industry with tightened pork supplies and higher prices.

Hog futures trend is technically up at this time, but looking at a bigger picture this market has actually been trading sideways since February. Hog futures could breakout to the upside with a sustained price move above $72, however, and if it happens it could be soon.

Share

Comments are closed.

Free Report
Receive Actual Trading Statements, & a Special Insider Report: 5 Key Trading Foundation Points

Futures Trading Report
 

Please note that it
takes a minimum
of $10,000 to effectively
trade these portfolios!
 
*First Name:
*Last Name:
*E-mail:
*Day Phone with
Area Code:

Categories

Follow Us on Twitter