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CME Lean Hogs Face US Herd Challenges
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CME lean hogs rise on technical bump, but face larger-than-expected US herd, while cattle futures are mixed. The USDA reported a larger-than-expected domestic hog herd, with an inventory of all hogs and pigs at 74.97 million head, up 0.02% from a year earlier. Additionally, the number of cattle on feed for Dec. 1 was 12.01 million head, up from 11.69 million in 2022, above average trade expectations.
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How do the technical factors influencing CME lean hogs and cattle futures affect market stability and investor sentiment?
How might the larger-than-expected US hog herd impact the pork industry and related markets?
What factors contribute to the mixed cattle futures despite the larger-than-expected cattle on feed?
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