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The USDA Hogs and Pigs report showed the US hog herd 4% smaller than a year earlier, a bigger contraction than traders expected. South Korea halted Canadian beef imports after an atypical BSE case was found in an Alberta cow.
The cow did not enter the food or feed chain.
A smaller hog herd tightens pork supply and supports lean hog prices. The Korean suspension trims Canadian beef export demand, which is mildly bearish for cattle and adds pressure on Canadian beef prices.
thecattlesite.comGlobal Ag MediaDec 31, 2021After 177 past bullish disease events, Lean Hogs moved a median +0.2% over 5 sessions (52% higher; middle half -1.8% to +2.7%), and +0.9% over 20.
After 70 past bearish disease events, Live Cattle moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.0%), 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.
