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Lean hog futures fell with bear spreading after the USDA Quarterly Hogs and Pigs report released Friday. The report showed more pigs saved per litter and some gilts diverted to slaughter, while breeding inventory was down about 3% from last year.
Higher sow productivity and fewer breeding animals signal modestly tighter future supply, but near-term hog supplies remain ample, keeping prices under pressure. Lower hog prices weigh on demand for hog-based feed ingredients.
ziacommodities.comLester AldrichDec 28, 2023After 159 past bearish report events, 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.
