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A Chinese pig industry commentary says the hog sector is in a down cycle that began in April 2022, with sow capacity still high and supply in Q2 2023 sufficient. Pig prices are expected to rise toward cost levels around mid-year, but the rebound will be slow and small.
It also notes wheat harvest-related corn selling, weak downstream demand, and a rising threonine price.
Ample hog supply and slow price recovery limit demand growth for feed grains and protein, while feed companies substituting wheat and imported grains for corn add pressure to domestic corn prices. A large incoming volume of imported corn reinforces bearish corn pricing in China.
huanweibio.comMay 24, 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.
