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Lean hog futures rose on June 30, with July hitting a 2.5-year high of 90.625 cents per pound after a USDA report showed the June 1 hog inventory at 71.7 million head, up 3% and the largest on record for the date. Strong pork demand ahead of July 4 supported prices, and analysts said the report was largely expected.
Record hog inventories add future supply, but robust pork demand and expanding exports are keeping prices firm, so hog feed demand stays solid.
foxbusiness.comBenjamin ParkinJun 30, 2017After 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.
