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China's breeding sow population rose for a ninth straight month in March to 39.92 million head. Pig prices bottomed and reached 15.4 yuan per kg in the second week of April, and officials said output of pork, beef, poultry and eggs grew year on year in the first quarter.
A rising sow herd points to more pigs later in the year, which is bearish for hog prices and implies stronger future feed demand from Chinese producers. The price recovery so far is still modest.
english.moa.gov.cn英文网1Apr 19, 2024After 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.
