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China's pork production fell 0.8% year-on-year in the third quarter of 2024, the third consecutive quarterly decline, per National Bureau of Statistics data. The herd fell 3.5% year-on-year to 426.94 million head, and cash hog prices dropped to a four-month low of US$2.41/kg.
Weak demand and shrinking herd sizes point to softer Chinese hog-sector feed demand, a modest bearish factor for feed grains and soymeal.
ukragroconsult.comNov 18, 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.
