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The June WASDE raised 2022 U.S. red meat production, with higher beef and pork output offsetting lower poultry. Beef and pork exports were raised on stronger Asian demand, and second-quarter hog, broiler and egg prices were lowered.
Higher beef and pork supplies and lower hog and poultry prices weigh on livestock values, while stronger export demand provides some support. The cattle price forecast was left unchanged.
cattlerange.comJun 1, 2022After 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.
Not enough comparable past events yet for a historical read.
After 78 past neutral report events, Live Cattle moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% 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.
