Latest WASDE report raises red meat, poultry production

After 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.

• Jan 16, 2024USDA Raises Meat Production Estimates - Zia Commodities, LLC-0.2%
• Mar 5, 2018Higher protein production forecast pressures prices for livestock producers | Western Livestock Journal-0.2%
• Jul 23, 2020Rabobank: Global pork production under pandemic pressure | 2020-07-23 | MEAT+POULTRY+2.2%
• Jul 8, 2018Record hog and pig inventory forcing prices lower - High Plains Journal-1.8%
• Feb 22, 2019Another Record Year for Meat Production Forecast for 2019-1.1%

After 78 past neutral report events, Live Cattle moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% over 20.

• Jan 19, 2024Livestock markets to have several positives, according to WASDE - High Plains Journal+0.9%
• Mar 26, 2018Do we have a placement prediction problem? | Western Livestock Journal-4.3%
• Oct 2, 2020Cattle on Feed report pushes feeders south | Western Livestock Journal+1.5%
• Feb 18, 2019Adjustments in Meat Production and Price Estimates - Southeast AgNET+0.8%
• Jun 1, 2022June USDA WASDE Report+0.9%