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USDA reported that the November 2019 gross pork processor spread averaged about $68 per hog, almost 79% above November 2018. Seasonally large hog supplies weighed on live prices while strong demand for hams and picnics lifted product values.
Wide packer margins signal that pork product demand is outpacing hog supply, and USDA expects spreads to stay above year-ago levels, though large supplies will pressure hog prices.
feedstuffs.comKrissa WelshansDec 19, 2019After 159 past bearish report events, 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.
