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Pig Site analysis from March 29 notes June lean hog futures remain in an uptrend near 15-month highs, with the CME cash hog index at $83.69. Analysts expect the upcoming USDA Hogs & Pigs report to show a herd roughly flat year on year, with the breeding herd down 3.5%.
A smaller expected breeding herd and steady demand support hog prices, though the quarterly report could shift supply expectations and the seasonal early-April softness may limit gains.
thepigsite.comSarah MikesellMar 29, 2024Not enough comparable past events yet for a historical read.
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.
