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USDA ERS projects US pork exports to rise about 4.6% over 2023 on higher domestic production and less global competition. February hog slaughter ran above expectations as processors bid up hog prices to meet stronger wholesale pork demand.
Strong wholesale pork demand and rising cutout values support lean hog prices, which in turn raise the cost of hogs for feed buyers. Expected continued demand suggests firm hog prices through the year.
nationalhogfarmer.comAnn HessMar 19, 2024After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% 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.
