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USDA's Quarterly Hogs and Pigs report showed the US hog herd on June 1 at 72.524 million head, down 0.9% from a year earlier. Breeding animals fell 0.8%, slightly less than the 1.1% decline analysts expected.
Most categories came in close to industry forecasts.
Continued herd contraction limits pork supply growth and supports hog prices over the coming months. The figures were close to expectations, so the report is unlikely to move futures much.
profarmer.comPro Farmer EditorsJun 29, 2022After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% 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.
