Hog futures higher following ASF report in Germany
By Will Robinson, Brownfield
September 10, 2020
Live cattle futures were higher, supported by the strength in hogs, waiting for the rest of the week’s direct business...
... Lean hog futures were sharply higher on the report of African swine fever being found in a wild boar in Germany and the potential increase in export demand for U.S. pork. South Korea, already a buyer of U.S. pork, has suspended imports from Germany, and there’s talk China could follow suit. Contracts will have expanded trading limits Friday. October was up $3.00 at $64.37 and December was $3.00 higher at $62.85.
Cash hogs closed higher also gaining potential support in the market because of ASF being found in Germany. Barrows and gilts at the National Daily Direct ended the day $2.46 higher with a base range of $42.00 to $57.00 for a weighted average of $51.33. The regional markets were not reported due to confidentiality.
Pork values closed moderately higher...