# Futures File: Pigs pounded on big supplies

> The USDA Quarterly Hogs & Pigs Report showed the U.S. breeding herd 4% larger than a year ago and a record for this time of year. Hog futures fell to about a three-month low, with April futures near 65 cents per pound, and soybeans dropped below $9.50 after USDA projected a record 89.5 million acres.

- Date: 2017-03-31 · published 2017-03-31T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/72143-futures-file-pigs-pounded-on-big-supplies
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A bigger hog herd means more pork supply just as demand is weak, which pressures lean hog prices and hog-feed demand. Record soybean acreage with high stocks also weighs on soymeal prices.

## Read by commodity

- SOY: bearish ▼
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2019-08-22 | [High hog supplies weigh on cash hog and pork values in US
						 \| The Pig Site](https://feedsoft.ai/events/57725-high-hog-supplies-weigh-on-cash-hog-and-pork-values-in-us-the-pig-site.md) | -2.6% | -10.9% |
| HOGS | 2020-06-29 | [CME update: hog futures dive on economic concerns and larger-than-anticipated supply
						 \| The Pig Site](https://feedsoft.ai/events/52768-cme-update-hog-futures-dive-on-economic-concerns-and-larger-than-anticipated.md) | -0.0% | +13.0% |
| HOGS | 2020-06-30 | [Hog Futures Sink as Supply Overhang Lingers    - WSJ](https://feedsoft.ai/events/52767-hog-futures-sink-as-supply-overhang-lingers-wsj.md) | -1.2% | +14.1% |
| HOGS | 2020-11-13 | [Pig outlook: Lean hog futures starting to trend down
						 \| The Pig Site](https://feedsoft.ai/events/50298-pig-outlook-lean-hog-futures-starting-to-trend-down-the-pig-site.md) | -2.9% | -3.8% |
| HOGS | 2020-06-27 | [Hog futures lower following Hogs and Pigs report - Brownfield Ag News](https://feedsoft.ai/events/52770-hog-futures-lower-following-hogs-and-pigs-report-brownfield-ag-news.md) | -0.0% | +13.0% |
| SOY | 2018-09-28 | [Futures mixed on larger stocks](https://feedsoft.ai/events/62994-futures-mixed-on-larger-stocks.md) | +0.5% | -1.5% |
| SOY | 2021-09-30 | [U.S. grains: Wheat futures surge as supplies drop to 14-year low - Grainews](https://feedsoft.ai/events/11320-u-s-grains-wheat-futures-surge-as-supplies-drop-to-14-year-low-grainews.md) | -3.3% | -3.5% |
| SOY | 2020-05-14 | [Wheat dips to near 2-month low on abundant global supplies \| Financial Post](https://feedsoft.ai/events/12705-wheat-dips-to-near-2-month-low-on-abundant-global-supplies-financial-post.md) | +1.3% | +3.6% |

## Sources

- desmoinesregister.com: https://www.desmoinesregister.com/story/money/business/2017/03/31/futures-file-pigs-pounded-big-supplies/99874526/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.