China aims to further lower soybean meal use, reduce hog capacity

After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.

• Apr 21, 2021China issues guidance on reducing corn, soy use in feed | Feed Strategy+3.5%
• Mar 19, 2021China looks to cut corn, soymeal content in animal feed | Feed Strategy+0.9%
• Sep 10, 2026China's hog capacity reduction poised to accelerate in Sep | Mysteel+4.1%
• Sep 22, 2022China to Cut Soybean Meal in Livestock Feed | Feed & Grain-6.3%
• Jun 7, 2023Soybean meal prices to be bright spot for pig producers | Feed Strategy-0.3%

After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.

• Apr 21, 2021China issues guidance on reducing corn, soy use in feed | Feed Strategy+5.3%
• Sep 22, 2022China to Cut Soybean Meal in Livestock Feed | Feed & Grain-3.6%
• Apr 10, 2023China makes an effort to reduce soybean imports+0.5%
• May 20, 2021Chinese firms cut soymeal content in hog feed to reduce imports - Global Times-2.3%
• Apr 14, 2023Food security drives China to cut soymeal use in animal feed | Reuters-0.2%

Not enough comparable past events yet for a historical read.

Not enough comparable past events yet for a historical read.