# China's Q1 Soybean Imports Slow to Four-Year Low as Pig Herds Shrink - Pork Business

> China's soybean imports in the first quarter are expected to fall about a fifth year on year to around 18.5 million tons, the smallest first-quarter total since 2020, after record slaughter shrank pig herds. CBOT soybeans are trading at a more than two-year low after a 15% slump last year.

- Date: 2024-01-17 · published 2024-01-17T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/32120-china-s-q1-soybean-imports-slow-to-four-year-low-as-pig-herds-shrink-pork
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weaker Chinese crush demand tied to a shrinking hog herd, ahead of a South American harvest glut, points to continued downward pressure on soybean and soymeal prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-11-07 | [China’s October soybean imports slide to lowest in eight years](https://feedsoft.ai/events/38680-china-s-october-soybean-imports-slide-to-lowest-in-eight-years.md) | +0.3% | -0.9% |
| SOY | 2022-10-06 | [Soybean imports forecast at two-year low crimp China's ailing hog feed makers](https://feedsoft.ai/events/39130-soybean-imports-forecast-at-two-year-low-crimp-china-s-ailing-hog-feed-makers.md) | +1.9% | +5.1% |
| SOY | 2020-11-20 | [China Targets U.S. Farm Imports With Tariffs on Soy, Corn - Pork Business](https://feedsoft.ai/events/50015-china-targets-u-s-farm-imports-with-tariffs-on-soy-corn-pork-business.md) | +1.2% | +3.6% |
| SOY | 2026-08-08 | [China July soybean imports drop on sow herd size concerns - Markets - Business Recorder](https://feedsoft.ai/events/17905-china-july-soybean-imports-drop-on-sow-herd-size-concerns-markets-business.md) | +1.5% | +11.9% |
| SOY | 2022-09-20 | [China’s soybean imports from Brazil plunge in August - Markets - Business Recorder](https://feedsoft.ai/events/14901-china-s-soybean-imports-from-brazil-plunge-in-august-markets-business-recorder.md) | -3.4% | -5.2% |
| SBM | 2022-09-20 | [China’s soybean imports from Brazil plunge in August - Markets - Business Recorder](https://feedsoft.ai/events/14901-china-s-soybean-imports-from-brazil-plunge-in-august-markets-business-recorder.md) | -1.6% | -4.7% |
| SBM | 2019-10-17 | [Wilmar takes hit as China welcomes Argentina soybean meal imports \| Singapore Business Review](https://feedsoft.ai/events/56643-wilmar-takes-hit-as-china-welcomes-argentina-soybean-meal-imports-singapore.md) | +1.2% | -0.2% |
| SBM | 2022-04-20 | [China's March soybean imports from U.S. fall from previous year](https://feedsoft.ai/events/14939-china-s-march-soybean-imports-from-u-s-fall-from-previous-year.md) | -4.0% | -11.4% |

## Sources

- porkbusiness.com: https://www.porkbusiness.com/news/industry/chinas-q1-soybean-imports-slow-four-year-low-pig-herds-shrink

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.