December 31, 2007

US hog futures seen bearish due to ample supplies

US market analysts expect a bearish reaction in lean hogs on the Chicago Mercantile Exchange Friday due reported expansion of herds and increased supplies in the coming months.

The figure for all US hogs and pigs as of December 1 was placed at 104.0 percent, compared with analysts' average forecast of 103.4 percent on a range from 102.1 percent to 104.8 percent.

The USDA pegged hogs kept for breeding at 101.0 percent, compared with the analysts' average forecast of 101.1 percent on a range of 100.4 percent to 101.8 percent.