Loading…
The USDA quarterly Hogs and Pigs report showed a record number of hogs and pigs, slightly above analyst expectations. Analysts said the report was neutral to bearish for cash and futures, though hog futures ended mostly higher.
A record hog inventory raises expected pork supply, so prices depend on export demand absorbing the extra output.
brownfieldagnews.comMeghan GrebnerSep 30, 2019After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% 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.
