As of November 13, China's national average hog price had recovered to 8.70 yuan/kg, up 0.69% week on week, after a weak start to the week. Sow inventories fell 0.58% month on month in October, and culling of sows deepened as discounts widened.
Stabilising hog prices and shrinking sow herds point to lower pork supply in coming months, which could gradually lift demand for feed ingredients such as corn and soymeal. The effect on prices is modest for now because farmers are still losing money and pre-Spring Festival supply is uncertain.
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.