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Lean hog futures slipped after USDA cold storage data showed only a slight drop in frozen pork supplies. Daily hog slaughter dipped to 380,000 head as backlogs persisted at plants.
Persistent slaughter backlogs mean hog supply is outpacing processing, keeping hog prices under pressure and weakening demand for feed grains.
After 117 past bearish disease events, Lean Hogs moved a median -0.6% over 5 sessions (36% higher; middle half -2.2% to +1.6%), and +1.2% 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.