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Chinese farmers are keeping the fewest breeding pigs since 2020, with the sow herd falling below 40 million head, a four-year low. Pig prices have risen more than 10% over two months and margins have been positive since mid-March, though a researcher says the recovery is a smaller-scale upcycle.
Reduced breeding stock points to lower future pork supply and supports hog prices, which also affects feed demand from China's hog sector. Analysts say the recovery is not yet a major turning point.
scmp.comBloombergApr 24, 2024Not enough comparable past events yet for a historical read.
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.
