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Hogs & Pigs Report is Neutral



The Hogs and Pigs report is neutral.  The December – February pig crop is 1.2% less than the average trade guess and farrowing intentions for June-August farrowing are 3 percent lower than expectations but what might happen  compared to guesses before the report in  2 to 4 months is a long way off.  Going forward is going to depend on pork sales.  The increase in numbers of hogs in 2023 is benefiting from active exports but has seen negative daily prices decline.  Pork prices will depend on how much pork has been contracted for months ahead.

cattle herd close-up


Beef net sales were just 11,300 MT.  The largest buyer if you can call it large was Japan taking 2,700 MT followed by China with 2,500 MT and Taiwan buying 1,700 MT. South Korea took just 1,600 MT.  Exports over the past month are low, too low to help improve cattle prices.

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Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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