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China's top economic planner said it will buy and store frozen pork to replenish central reserves after a pork-to-grain price index fell to the second-highest warning level. The index read 5.21 to 1 for April 24 to 28, and this is the second frozen pork purchase batch this year.
State stockpiling removes supply from the market and is intended to lift hog prices back toward a reasonable level. Higher hog prices can improve producer margins and support demand for feed grains and meal over time.
global.chinadaily.com.cnMay 5, 2023After 37 past bullish policy events, HOGS moved a median +0.0% over 5 sessions (51% higher; middle half -2.8% to +0.9%), and +0.2% 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.
