Loading…
Hog futures fell on March 29, 2022, ahead of the USDA Quarterly Hogs and Pigs report, while April live cattle closed $0.60 higher and feeder cattle rose on lower corn. Choice boxed beef closed $0.63 higher at $264.50 and estimated cattle slaughter was 125,000 head.
Traders are positioning ahead of the hog inventory report, and lower corn supports feeder cattle prices, but the report is the main near-term driver for hogs.
brownfieldagnews.comMeghan GrebnerMar 29, 2022After 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.
After 227 past bullish report events, FCATTLE moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 268 past bullish report events, LCATTLE moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
