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Lean hog futures fell more than 7% on Friday after the USDA quarterly Hogs and Pigs report showed U.S. swine production rebounding from the Covid-19 disruptions faster than expected. Most-active futures were near their lowest level since April.
Supplies remain heavy even with packing plants recovering, so the report points to continued downward pressure on hog prices for feed buyers.
wsj.comKirk MaltaisJun 30, 2020After 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.
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.
