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USDA's 1 December Quarterly Hogs and Pigs Report showed total inventory of 77.5 million head, down 1% from a year earlier, and breeding inventory of 6.28 million, down 3%. Analysts said the breeding herd decline raises uncertainty about summer and fall 2021 supplies.
A smaller breeding herd points to reduced hog supply in 2021, which is supportive for hog prices and implies lower feed demand from hog production later.
porkbusiness.comJennifer ShikeDec 24, 2020After 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 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
