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The National Pork Board's panel of economists discussed the December 2022 Hogs and Pigs Report, which showed the breeding herd up 0.5% year over year, the first annual increase in about 2.5 years. Market hog inventory on December 1 was 66.966 million head, down 2.0% from a year earlier.
A breeding herd that is starting to expand points to more hogs later in 2023, a bearish supply signal for hog prices and feed demand over time.
porkcheckoff.orgJan 9, 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.
