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US pork industry expansion has slowed to a 2.4% breeding herd growth rate after losses and trade tariffs. USDA's Hogs and Pigs report showed inventories smaller than trade expected, so 2019 pork supply estimates were revised lower.
First-quarter slaughter is still forecast to be nearly 3% above last year.
Smaller-than-expected inventories and slowing herd growth trim expected pork supplies, which supports hog prices despite higher first-quarter slaughter.
doi.orgHurt, ChrisJan 1, 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.
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.
