
China's pork output fell 3% year on year to 13.98 million tonnes in March-May, the second consecutive quarterly annual decline. Hog slaughter in the first half fell 3.1% as breeders held animals for fattening amid weak meat demand.
Lower Chinese pork output reduces domestic hog slaughter and meal demand, but weak consumption and herd reduction efforts keep the outlook for feed demand subdued.
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.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.