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USDA's Livestock, Dairy & Poultry Outlook forecasts U.S. pork production rising 3.5% in 2020 to about 28.3 billion lb as producers respond to higher international prices from Chinese hog losses to African swine fever. Lean hog prices are forecast to average about $60/cwt in 2020, more than 10% above 2019 forecasts.
Expansion in pork output could cap the upside in hog prices later, though strong export demand from China's shortfall supports prices near term.
feedstuffs.comKrissa WelshansMay 23, 2019After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
