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Iowa Agribusiness Radio reports the USDA Hogs and Pigs report showed total swine inventory at a record 71.5 million head, up 4% from last year, with breeding herd up 1.5%. Analysts note strong productivity gains and questions about packer capacity near 2.5 million head per week.
A record hog inventory and productivity gains point to sustained large pork supply, which tends to pressure hog prices and limit feed demand growth.
iowaagribusinessradionetwork.comStaff EditorDec 29, 2016After 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.
