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A weekly outlook cites the USDA inventory report showing the breeding herd up 3.5% and the market herd up 3%. Record 2018 pork production near 26.5 billion pounds is forecast, with more growth in 2019.
Rising breeding and market herds point to more hogs over the coming months, which is bearish for hog prices. Pork exports, now 22% of production, are key to absorbing the supply.
doi.orgChris N Hurt, Hurt, ChrisJan 1, 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.
