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China's pork output in June-September fell 0.8% year-on-year to 12.59 million tonnes, the third straight quarterly decline. Hog slaughter and herd size also fell, while weak consumer demand capped the recent hog price rally.
Lower Chinese pork output reduces domestic feed demand somewhat, but weak meat demand limits the impact on feed grain and meal prices.
producer.comadminNov 7, 2024After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
