Do you want to get information about lean hogs prices? In this article, we explore the best alternatives to Trading Economics to acquire this data.
Lean Hog is a futures market for hogs (pork). Lean Hog contracts and options are exchanged on the Chicago Mercantile Exchange (CME), which first offered derivative contracts on lean hogs in 1966. These need monetary compensation depending on the CME Lean Hog index, a two-day averaged mean of money markets.
US pork farmers frequently utilize lean hog futures contracts as reference pricing in sales agreements to offer their pigs. Trading agreements tied to pork futures prices are interrelated and tend to rise with producer size. Furthermore, hog growers frequently trade pork futures contracts directly as part of a risk management strategy.
As cattle commodity futures, lean hog financial products are frequently combined with distribution grid and live cattle derivative contracts. Because these commodities have several basic supply and demand issues, including extended feeding times, weather, food costs, and consumer mood toward meat eating, putting them together is important for commodity trade talks. Agricultural indexes have followed suit, categorizing these futures transactions as cattle commodity futures.
Use An API
Today pork is very important, for example in countries where cold cuts are made. It is also usually one of the cheapest meats, so there are countries where its consumption is increasing.
However, the futures market for lean hogs can be fluctuating, which does not mean that it is unpredictable. That is why it is important to be aware of the values at all times to understand what is the best time to invest in these assets.
For this reason, it will be very convenient for you to use an API. This is a tool that develops different functionalities from transmitting the information. In this case, you should embed your digital media by incorporating an API that constantly updates commodity data. Trading Economics is widely used today.
It delivers reliable data for 196 nations, including historical data and projections for over 20 million financial statistics, currency rates, stock market indexes, federal bond yields, and agriculture values. But you may be looking for more practical alternatives. Here we present the best.
Commodities-API
Commodities-API is the type of tool that best suits this need. It is a CME Groups rates API. Provides information on the most important international markets. It also has extensive documentation that you can use in JSON, PHP, or Python. It’s an API for commodity data.
You can juxtapose Lean Hogs securities with other futures contracts so that different investment options can be considered. You will have a view of past prices and fluctuation data.
Barchart
Since 1995, Barchart has been one of the world’s leading commodity data houses. Based in the center of the agricultural market that is Chicago, the API looks at various commodity prices and futures contracts.
It is one of the financial APIs of these most important products. You can find prices in real-time. Many important companies go to their API to obtain this information. You can use it in many options of programming languages.