If you’re looking for historical prices of the lean hog, check out this API for commodity data!
Pork industry experts are generally very optimistic about the prospects for lean hog prices in the future. They cite demand, especially from international sources, as the main catalyst for higher prices.
About Lean Hog Prices
What Drives the Price of Lean Hogs? Some of the specific factors that move lean hog prices include:
-Feed Prices:The cost of grains and feeds represents more than two-thirds of the production costs of producing pigs. Historically, the price of livestock feed, especially corn, is inversely related to the price of lean hogs. As the price of corn rises, farmers take their hogs to market at lower weights to save on the higher costs. This creates an excess supply of hogs in the marketplace.
-Weather: Extremely warm weather in the late summer and early fall can make hogs inactive and lessen their desire to mate. This could result in a smaller number of births in the winter months. The reduced supply can translate into higher prices when the pigs are taken to market the following summer.
How & Where to Invest in Commodities
For investing in commodities, some exchanges offer investment portfolios. However, you can also invest directly in the product, buy shares in companies that produce commodities, or buy shares in specialized commodity exchanges. Before that, however, you need an easy way to find out the prices of all commodities, and for that we recommend the best and easiest API for commodity data on the market. Its name is Commodities API.
API for Commodity API
Commodities-API is a service that collects information and keeps you up to date on the prices of a variety of commodities, including rubber, rice, coffee, corn, sugar, wheat, lumber, soybeans, natural gas, oil, and more. All this with an accuracy of two decimal places and updates every 60 seconds. Data is collected every minute from over 15 reliable data sources. The sources include banks and financial data providers.
Another important feature is that it does not matter if you are from Mexico, Japan, Indonesia, Germany or India, you will be able to see the prices in the official currency of your country. Today, this service is used by many developers, SMEs and large organizations. Some famous clients are Barrick, Metex, Chainlink, etc. To use this service, we recommend reading the documentation on the website, but do not worry, everything is very simple and intuitive. For a better analysis, Commodities API also offers the possibility to create charts, so you can compare prices with other commodities and do analysis of price changes over time.
Finally, you must be thinking that this system must be very expensive. But no! Commodities-API includes a completely free option with a limited number of “API calls”.
If you enjoyed our article, we suggest you to read more about this API by pressing here:
Use a Commodities Rates API to Create Charts for Coal Prices – TheStartupFounder.com
Also published on Medium.