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Reuters, citing industry operators, reports that China's pig herd has declined more than officially announced, with sow numbers possibly down 6-8 million head. Chinese pork imports are expected to rebound in 2023 after a sharp drop in 2022 purchases.
A smaller domestic herd and tighter pork supply would lift Chinese import demand for pork and feed, supporting global meat and feed-ingredient prices into 2023.
tridge.comVictor LangatDec 13, 2022After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
