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USDA's April Hogs and Pigs report came in close to analyst expectations and was largely neutral for the market. Lean hog futures fell sharply on April 2 because of China's announced 25% tariff on U.S. pork.
The price drop is driven by the Chinese tariff on pork exports rather than the report, which reduces U.S. pork export demand and lowers hog values.
nationalhogfarmer.comSteve MeyerApr 2, 2018After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% 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.
