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USDA projects rising US pork production over the next decade while pork prices decline over the next two years. Record 2017 pork exports of 5.632 billion pounds were driven by Mexico, and January hog prices averaged $50.40/cwt, up $4.80 year over year.
Expanding hog output implies more feed demand over the coming decade, supporting corn and soymeal use. Falling pork prices in the next two years would weigh on hog margins and could slow herd growth.
nationalhogfarmer.comRon PlainFeb 19, 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.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
