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A USDA-based projection shows US commercial pork production rising 3.5% in October-December 2024 and slaughter up 1.6%. The forecast gives December lean hog futures a range of $67 to $80 per cwt.
Higher fourth-quarter pork output points to pressure on hog prices, with the projected futures range sitting below last year's levels.
lacocommodities.comDavid TedrowSep 30, 2024After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
