
Rabobank's Global Pork Quarterly Q4 2023 says improved herd health is boosting pig crops and producers are cutting less productive operations, adding to supply. Stagnant consumption and regional oversupply are expected to pressure global pork markets for the rest of the year.
Rising production against flat demand weighs on pork prices, while lower corn and soymeal costs help producer margins and could support 2024 feed demand.
After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
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.