Weekly Outlook: A bearish Hogs and Pigs report with few bright spots on the horizon

Jason Franken University of Illinois
Posted 7/1/20

URBANA — Another all-time record hog inventory amidst the COVID-19 pandemic extends further downward pressure on prices. The USDA’s June Hogs and Pigs report places the June 1 inventory of all hogs and pigs at 79.6 million head, up 5.2% from a year ago. That’s just above the upper range of pre-report expectations and well above the midpoint of 3.7% higher, according to Jason Franken, agricultural economist at Western Illinois University.

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