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Analysts expect USDA's Thursday Hogs and Pigs report to show a 0.8% year-on-year decline in the hog herd as of September 1, with breeding stock down 0.4%. Allendale estimates the herd as the smallest in five years.
Rising input costs and weak demand have contributed to herd liquidation.
Expectations of a shrinking herd and tighter supplies could offset the usual seasonal low in fourth-quarter hog prices.
brownfieldagnews.comMeghan GrebnerSep 27, 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.
