Hog Futures Slide on Overseas Lackluster Demand

With signs that overseas demand continues to wane, hog futures closed down today for three out of the last four trading sessions.  For the last year (as of yesterday), hog futures are only down just over 3%.

The USDA said yesterday domestic exporters shipped just over 372 metric tones of pork the first two months of this year, which is down 14% from the same time period last year.  What might be contributing to the slack demand is Russia’s ban on US pork because they claim it may be tainted with a feed additive that is used to manipulate muscle mass in livestock.            

Hog futures trend just turned upward before this recent sell-off, and I am still geared toward the long signals.  After last month’s low, hog futures have been making higher-highs and higher low’s, so I’ll be looking for long signals tomorrow.


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