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USDA's March 1 Quarterly Hogs and Pigs report put the total U.S. hog inventory at 72.9 million head, slightly up year over year but down 2% from December. The breeding herd was 6.13 million and the Dec-Feb pig crop was estimated at 32.1 million, both slightly higher than 2022.
Inventory came in above the lower numbers the industry expected, implying ample hog supply that weighs on prices unless demand strengthens.
fb.orgBernt NelsonApr 11, 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.
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.
