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Chinese pig prices resumed their upward trend after a liquidation that began in July 2021, with slaughter pigs up 4% month on month in late August. The National Development and Reform Commission said it would release state pork reserves from September, while heat, drought and power rationing in several provinces affected crops and feed supplies.
Drought hitting feed grain production and rising hog prices increase feed ingredient demand and corn and soymeal import needs, though government reserve releases may cap pork price gains.
thepigsite.comLaurence WilliamsSep 6, 2022After 12 past bullish weather events, Lean Hogs moved a median +1.5% over 5 sessions (58% higher; middle half -1.6% to +7.1%), and -3.9% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
