A round of liquidation
Sep 23, 2022
Falling wholesale pork prices and worries about the health of the global economy triggered a round of long liquidation, and thus Chicago Mercantile Exchange (CME) lean hog futures fell nearly 2% on Wednesday.
- The USDA priced pork carcasses at lower prices since last week.
- When the morning cut-out showed a sharp drop in price, that gave the longs a good reason to take profits and get out.
- Cattle futures also fell this Wednesday.
- CME October live cattle and feeder cattle futures settled down.
