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Lean hog futures rose on June 23 after USDA stocks data showed a record-large May drop in frozen pork inventories. The decline followed COVID-19 outbreaks among meat plant workers that slowed production.
Lower cold storage stocks tighten near-term pork supply and support hog prices, although overall livestock supplies remain ample.
thepigsite.comMegan HowellJun 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.
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.
