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The USDA-based Hogs and Pigs data showed total U.S. hog inventory on December 1, 2022 at 73.1 million head, down 2% year over year, with market hogs at 67.0 million and breeding hogs at 6.15 million. Iowa inventory was 23.6 million head, down 1% from last year.
The Sept-Nov pig crop was 33.7 million head, down 1%.
A smaller hog herd tightens future pork supply, supporting lean hog futures and reinforcing firmer feed demand expectations for soybean meal and corn.
iowafarmbureau.comDec 27, 2022After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% 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.
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.
