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US lean hog futures edged higher in bull-spreading ahead of a USDA quarterly report showing the June 1 hog herd at 73.451 million, up 3% and the largest for that date since 1964. Analysts said the record herd could weigh on futures, though strong pork demand has supported prices.
A record hog herd signals ample future pork supply and weaker hog prices, which lowers expected demand for feed ingredients from the hog sector.
grainews.caMichael Hirtzer, GFM Network NewsJun 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.
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.
