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AFBF economist Katelyn McCullock says USDA's December Hogs and Pigs report showed 71.5 million hogs and pigs, up 4% year over year, with a record 10.63 pigs weaned per litter. Sows are expected to farrow at higher rates, and new packing plants will add only about 6% to daily slaughter capacity.
Larger hog numbers point to heavier pork supply and softer hog prices later in 2017, which lowers the outlook for hog-related feed demand.
texasfarmbureau.orgJan 6, 2017After 159 past bearish report events, 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.
