Pork belly futures july pork belly futures on the CME

July pork belly futures on the CME closed up 1.2% at $1.19 per pound yesterday, aided by shrinking warehouse stocks. Supply chain chatter suggests some processors are managing inventories tighter, leading to stronger spot market bids. Momentum traders may look for a break above $1.20 as a technical trigger. Garcia ticked off the drivers of Berner's failure - high taxes, illicit competitors, Cole Ashbury's weak management and oversight. Though everyone had expected the shop to be worth millions, "it appears that everyone was mistaken," he said. The store's valuation was based on nothing but "enthusiasm and optimism," with exactly zero due diligence. "Instead, everyone believed that given it was in the Haight, it would have to succeed." In an economically uncertain environment subject to policy-driven volatility, the underperformers would be high beta stocks such as the technology sector. The friction and tension surrounding the US-China trade war uncertainty has dampened the forecasted earnings of technology companies such as Apple who recently revised their first quarter earnings forecast. Pork belly futures prices have recently edged higher to $1.17 per pound amid stronger summer demand expectations. Traders are noting increased volatility in the livestock sector, with speculative positions building ahead of USDA’s next cold storage report. Short-term momentum remains bullish if wholesale pork prices sustain the current trend.