# CIH's Hog Margin Watch Report for October 1-15, 2021 - Swineweb.com - Complete Swine News, Markets, Commentary, and Technical Info

> Hog margins deteriorated in the first half of October as hog prices fell more than feed costs eased. The pork cutout dropped around $20/cwt from summer highs and cash hogs were down about $5/cwt in October. USDA's October WASDE raised corn and soybean production forecasts and ending stocks.

- Date: 2021-10-20 · published 2021-10-20T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/44728-cih-s-hog-margin-watch-report-for-october-1-15-2021-swineweb-com-complete-swine
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Weaker hog margins reduce producer feed buying, while the larger USDA corn and soybean supply estimates add bearish pressure to feed grain prices.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- HOGS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| HOGS | 2021-10-19 | 5 | -9.1% | -3.4 | Documents the cutout falling about $20/cwt and cash hogs down about $5/cwt in October, confirming the fundamental price weakness behind the futures decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2023-02-19 | [CIH Hog Margin Watch: February - Swineweb.com - Complete Swine News, Markets, Commentary, and Technical Info](https://feedsoft.ai/events/37474-cih-hog-margin-watch-february-swineweb-com-complete-swine-news-markets.md) | +1.7% | -1.5% |
| HOGS | 2022-07-15 | [UPDATE 2-China Q2 pork output at highest in years after herd recovery - Swineweb.com - Complete Swine News, Markets, Commentary, and Technical Info](https://feedsoft.ai/events/40473-update-2-china-q2-pork-output-at-highest-in-years-after-herd-recovery-swineweb.md) | +1.5% | +6.1% |
| HOGS | 2026-08-25 | [Heavier Hogs Keep U.S. Pork Production Growing as Demand Pressures Prices - Swineweb.com - Complete Swine News, Markets, Commentary, and Technical Info](https://feedsoft.ai/events/18044-heavier-hogs-keep-u-s-pork-production-growing-as-demand-pressures-prices.md) | +0.5% | -5.9% |
| HOGS | 2022-04-14 | [Global Pork Quarterly Q2 2022: Inflationary Pressure Renews Industry Focus on Efficiency and Slows Growth - Swineweb.com - Complete Swine News, Markets, Commentary, and Technical Info](https://feedsoft.ai/events/5956-global-pork-quarterly-q2-2022-inflationary-pressure-renews-industry-focus-on.md) | +7.6% | +1.6% |
| HOGS | 2026-06-23 | [USDA Outlook Signals Bigger Pork Supplies, Softer Prices, and Export Opportunities Ahead - Swineweb.com - Complete Swine News, Markets, Commentary, and Technical Info](https://feedsoft.ai/events/18964-usda-outlook-signals-bigger-pork-supplies-softer-prices-and-export.md) | -0.6% | +6.4% |
| CORN | 2022-10-12 | [Key data in USDA's October 12 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/39093-key-data-in-usda-s-october-12-wasde-report-and-difference-from-market.md) | +1.9% | -1.0% |
| CORN | 2021-09-13 | [Market Trends Report – September & October 2021](https://feedsoft.ai/events/12293-market-trends-report-september-and-october-2021.md) | +0.1% | -3.1% |
| CORN | 2024-03-08 | [MARCH 2024 WASDE REPORT SUMMARY AND NOTES: - CIH](https://feedsoft.ai/events/31131-march-2024-wasde-report-summary-and-notes-cih.md) | -0.3% | -3.1% |

## Sources

- swineweb.com: https://swineweb.com/cihs-hog-margin-watch-report-for-october-1-15-2021/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.