{"id":108847,"date":"2017-07-11T10:50:28","date_gmt":"2017-07-11T14:50:28","guid":{"rendered":"http:\/\/countingpips.com\/?p=108847"},"modified":"2017-07-11T10:22:25","modified_gmt":"2017-07-11T14:22:25","slug":"lean-hogs-technical-analysis-hog-inventory-in-us-exceeded-the-50-year-maximum","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/lean-hogs-technical-analysis-hog-inventory-in-us-exceeded-the-50-year-maximum\/","title":{"rendered":"Lean Hogs: Technical Analysis – Hog inventory in US exceeded the 50-year maximum"},"content":{"rendered":"
July 11, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Hog inventory in the US exceeded the 50-year maximum<\/strong><\/p>\n

The US Department of Agriculture (USDA) noted in its quarterly report that the hog inventory in the country has reached the maximum level in more than 50 years. Will the\u00a0hog prices<\/a> fall?<\/p>\n

In the second quarter of 2017, the hog inventory has increased by 3% compared to the last year\u2019s indicator for the same quarter and reached the maximum level since 1964 \u2013 71.65 million. This is slightly more than the market participants expected. The number of fattening pigs in the United States rose by 2% and amounted to 6.069 heads. The market supply of hogs for sale on June 1 of the current year was 65.581 million heads against 63.302 for the same date in 2016. At the same time, its value reached the annual maximum. Theoretically, the increase in the supply of hog may provoke a price correction.<\/p>\n

\"lhog\"<\/p>\n

On the daily timeframe, LHog: D1<\/b> continues to be in a rising price channel, but its increase has slowed down. A downward correction towards the lower boundary of the channel is possible in case supply of meat exceeds demand.<\/p>\n