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Rabobank's quarterly pork report expects global pork trade to weaken in the second half of 2023 after a strong first half. Weak consumption in China and Europe, high Chinese frozen pork inventories and tighter EU supply are cited as drivers.
Weaker pork trade reduces demand for imported feed and meat-based feed ingredients and pressures hog prices in exporting regions. Lower hog margins may cut feed usage over time.
ukragroconsult.comAug 2, 2023After 159 past bearish report events, HOGS moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
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.
