Loading…
US wholesale pork prices are at their lowest seasonal level in a decade as the hog herd reached its highest since 1943, per USDA data cited in the report. Hog futures had their biggest monthly loss in almost a year in June, and China's ban on Canadian meat after forged health certificates could add North American supply.
Excess US hog supply and weak pork cuts-out point to continued pressure on hog futures, while rising domestic pork consumption offers partial offset. Cheap feed encouraging heavier hogs adds to the supply glut.
freemalaysiatoday.comBloombergJun 29, 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 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
