Loading…
The ASPROCER summary of USDA projections forecasts global pork exports up nearly 3% in 2018, with production rising about 2% to 113.1 million tons. Growth is driven by China and the US, while the EU is expected to cut output.
US production is forecast to rise 4% in 2018, which the report says will pressure hog prices.
Expanding global pork supply and US production growth would weigh on hog prices and reduce demand for feed ingredients used in hog rations. Stronger export demand partly offsets this.
asprocer.cladmin asprocerOct 25, 2017After 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 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
