On November 13, hog futures and hog-farming stocks in China rose together, with the far-month contracts leading. Spot hog prices stayed near a ten-year low as heavy market weights and rising frozen-meat stocks kept supply pressure high.
Sow culling continued, and farm losses reached a new high in this cycle.
The futures rebound reflects expectations of sow herd reduction, but spot supply remains heavy, so the gains are unlikely to pass through to feed demand soon. Farm losses may keep hog-feed buying cautious.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.