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The USDA Quarterly Hogs and Pigs report put total US hog inventory on Sept. 1 at 74.319 million head, up 2% from the prior quarter.
Average pigs saved per litter hit a record 11.61 for June to August, and the breeding herd of 6.079 million head was the smallest since 2016.
Record litter productivity increases pork supply, though a smaller breeding herd could limit future supply growth and support prices later.
nationalhogfarmer.comAnn HessSep 28, 2023After 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.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), 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.
