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ADM's daily global ag wrap reports China's sow herd at 42.1 million, hog prices at 15.18 yuan per kg (42% below a year ago), and the government's plan to encourage a more reasonable production level. It also lists overnight and year-to-date grain and oilseed futures moves.
Excess Chinese pig capacity and low hog prices weigh on feed demand for corn and soymeal, while the market moves reflect routine price action.
admis.comADMIS Research TeamNov 21, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
