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China's sow herd reached 43.4 million in February, about 5% above targeted capacity, according to CCTV. Hog prices have hovered around 15 yuan per kilogram since late 2022 and producers are losing about 100 yuan per head.
The Ministry of Agriculture and Rural Affairs met to discuss stabilization measures including lending support and monitoring.
Oversupply of hogs and weak pork demand keep Chinese hog margins negative, which can reduce near-term feed purchases until herd cuts take effect. Lower hog prices weigh on demand for corn and meal, while expected disease-driven herd reduction could later support prices.
agri-pulse.comLydia JohnsonMar 29, 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.
