Philippine livestock output in Q1 2024 was mixed, with hog production down about 4% due to African Swine Fever and goat output falling due to El Niño. The government extended lower import duties on rice, corn and meat through 2024 to stabilize prices.
The article also flags an emerging Q fever risk.
Lower import duties encourage more imported corn and meat into the Philippines, which weakens local prices and supports demand for imported feed grains.
After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 34 past bearish policy events, Lean Hogs moved a median -0.3% over 5 sessions (41% higher; middle half -1.6% to +1.3%), and -1.8% 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.