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A farmdoc daily outlook says the December 23 Hogs and Pigs report showed 2017 pork supplies larger than expected. Despite that, higher hog prices are expected because of strong export demand.
Larger pork supplies would normally pressure hog prices, but export strength is offsetting this, which supports hog margins and feed use.
doi.orgChris N Hurt, Hurt, ChrisJan 1, 2017After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% 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.
