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China Feed Industry Association data show Q1 2022 feed output of 67.2 million tons, up 3.1% year on year but down 14% month on month. Pig feed output fell in January and March, and farmers cut feeding amounts due to losses from high costs and epidemics.
Lower pig feed volumes reduce Chinese demand for corn, soymeal and other feed ingredients, which is bearish for those markets, while high ingredient costs continue to squeeze producers.
agripost.cn作者: 牧食记AgriPost.CNMay 10, 2022After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 399 past bearish report events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 159 past bearish report events, HOGS moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% 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.
