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Rabobank's global animal protein outlook for 2025 expects China's pork production to rise year-on-year after a slight 2024 decline. It forecasts prices will fall below 2024 levels but stay above breakeven.
China's pork imports fell 14% in 2024.
Expected growth in Chinese pork output and lower prices suggest softer hog values and reduced import demand, which could temper feed demand tied to hog production.
After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
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.