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Fitch Ratings expects overcapacity in China's hog breeding industry to persist into the second quarter of 2024, with most breeders losing money. The number of breeding herds remains close to the government cap of 41 million, though some signs of faster capacity cuts have emerged.
Persistent oversupply keeps Chinese hog prices under pressure into mid-2024, reducing feed purchases, while possible capacity cuts in the second half could lift prices.
fitchratings.comFitch WireFeb 27, 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.
