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USDA's Quarterly Hogs and Pigs report showed the U.S. hog inventory up 3% from 2017 to 75.5 million as of Sept. 1, including a 6.33 million breeding herd.
Market hogs were 69.2 million, up 2.9%, and June-August pig weaning rose 3%.
A larger hog supply points to heavier pork output ahead, which weighs on hog prices unless export demand absorbs it. Analysts say exports of about 22% of production will be the key price driver into 2019.
nationalhogfarmer.comAnn HessSep 28, 2018After 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.
Not enough comparable past events yet for a historical read.
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.
