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USDA's Economic Research Service forecasts 2022 pork production down 2.2% from a year earlier, with hog prices averaging about $74/cwt, nearly 10% above 2021. Lower federally inspected slaughter has been the main driver of 2022 hog and pork prices, and exports are forecast to fall 6.4% due to reduced Chinese purchases and a stronger dollar.
Tighter hog supply supports hog and pork prices through 2022, while reduced export volumes and a strong dollar limit demand for US pork.
porkbusiness.comAug 19, 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.
After 53 past bullish report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.5% 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.
