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Soybean meal futures rose from $330 in early February to $390 in early March, and corn futures also increased in recent weeks. A Purdue analysis examines how these moves affect swine finishing feed costs, with the rise attributed to dry weather in Argentina.
Higher meal and corn futures lift swine finishing feed costs, squeezing hog producer margins unless offset by hog prices.
nationalhogfarmer.comMar 12, 2018After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 10 past bearish weather events, Lean Hogs moved a median -0.6% over 5 sessions (20% higher; middle half -2.7% to -0.2%), and -4.3% 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.
