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The USDA June Hogs and Pigs report pointed to tighter hog supplies in the second half of 2021. Farrowing intentions for June through August varied widely across the country, ranging from about 11% lower to 11% higher year over year, and came in below pre-report estimates.
Lower farrowing intentions signal reduced hog inventories ahead, which supports hog prices and may modestly lower feed grain demand over time.
brownfieldagnews.comMeghan GrebnerJun 25, 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.
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.
