ANALYSIS: Bearish Fundamentals Weigh Heavily on CME Hog Futures
Hog futures on the Chicago Mercantile Exchange have been under intense selling pressure in the latest week and counting. Since March 13, the April contract shaved off nearly 12% of its value and closed at $77.05 per cwt on Tuesday.
Meanwhile, the summer contracts have seen a steep correction from around $109 per cwt at the start of the year to about $91.00 to $93.00 per cwt through Tuesday afternoon.
Along with spillover pressure from volatile outside markets due to unrest in the banking and financial sectors...
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