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August lean hog futures dropped below 48 cents per pound on June 26 after USDA's Quarterly Hogs and Pigs report showed herds 5% larger than a year earlier, above expectations. Heavyweight hog numbers rose most sharply, and the column notes gold near $1,800 an ounce.
A surplus of slaughter-ready hogs, combined with processing bottlenecks, points to continued weakness in hog prices and feed demand from the sector.
journalgazette.netWALT, ALEX BREITINGER, Breitinge, Sons LLCJun 26, 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.
