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USDA's March Hogs and Pigs report showed March 1 market hog inventory below a year earlier, the first such decline for March since 2014. Every market hog weight category was below last year, and farrowing intentions were cut.
Inventory came in below the average trade estimate in every category.
A smaller hog inventory and lower farrowing intentions point to reduced slaughter supplies through summer, supporting lean hog futures.
nationalhogfarmer.comRon PlainMar 29, 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.
