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Economists Kevin Grier, Lee Schulz and Tyler Cozzens gave quarterly hog price forecasts following the June 24 USDA Quarterly Hogs and Pigs Report. Forecasts for Q3 2021 ranged roughly from $90 to $97 per cwt, with prices declining into early 2022.
Schulz said 2021 would average about $90 per cwt, the highest since 2014.
Expectations of a seasonal decline in hog prices into late 2021 and early 2022 point to softer demand for feed ingredients as producers adjust, while the high 2021 average reflects tight supply.
porkbusiness.comJennifer ShikeJun 30, 2021After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% 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.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), 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.
