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June lean hog futures settled down 3.6 cents at 120.625 cents per pound after trading from a contract high to a session low on the CME. The move followed a USDA report showing the US hog herd down 2.3% year over year, which was bullish but was offset by end-of-quarter profit-taking.
A smaller hog herd supports future pork supply tightness, but weak wholesale pork and fund liquidation capped prices, affecting feed demand outlook.
thepigsite.comMelanie EppApr 1, 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.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), 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.
