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USDA's Sept. 1 Quarterly Hogs and Pigs report put total US hog inventory at 73.8 million head, down 1% from a year earlier.
The June-August pig crop fell 1% to 33.6 million head, and intended September-November sow farrowings are down 2% from a year earlier.
Smaller herd and pig crop with fewer intended farrowings reduce future pork supply, which supports lean hog prices and lowers hog-feed demand expectations.
dtnpf.comDTN StaffSep 29, 2022After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), 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.
