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Lean hog and pork cutout futures opened sharply higher on Sept. 27 after USDA's quarterly Hogs and Pigs report came in well outside pre-report estimates.
The report showed all hogs inventory down 3.9% year over year and a much smaller winter pig crop.
A smaller hog supply through winter, with slaughter possibly down up to 6%, tightens pork availability and supports higher lean hog prices, which raises feed demand outlook for hog-related feed ingredients.
porkbusiness.comJennifer ShikeSep 27, 2021After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), 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.
