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China's Ministry of Agriculture and Rural Affairs said hog supply in the second half of 2022 is guaranteed and prices will not rise sharply or continuously. Officials attributed the recent price rise to recovery demand and seasonal factors, and expect H2 supply similar to 2021.
Official assurance of ample hog supply caps the upside in hog prices and therefore farmer demand for feed. Rising corn and meal costs were noted as a pressure on breeding economics.
english.news.cnJul 20, 2022After 34 past bearish policy events, Lean Hogs moved a median -0.3% over 5 sessions (41% higher; middle half -1.6% to +1.3%), and -1.8% over 20.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 206 past neutral policy events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% 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.
