US hog herd remains at four year lows. June 29, 2022
A small trading range of only 1.55 wide was noted for the August ahead of the big Hogs & Pigs report. The trade is preparing for a test of this minor uptrend line at 102.80 tomorrow. The October and December have already violated their similar uptrend lines. But after the close USDA confirmed this hog herd will remain at four year lows and is not in expansion. Recession talk is valid into next year. But that will also coincide with a relatively tight US meat supply.
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