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USDA lowered its hog price projections, expecting prices to fall in 2019 and 2020 because of large supplies and weaker-than-expected exports. It also trimmed its 2020 meat production forecast, citing slower cow and fed cattle slaughter.
A lower USDA price outlook for hogs signals continued pressure on hog values, while the reduced beef production forecast supports cattle prices.
brownfieldagnews.comadminDec 17, 2019After 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.
After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% 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.
