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A CZ app insight piece says Chinese hog farmers face losses because high grain prices and low pork prices squeeze margins. It expects the current pig cycle to end in late 2022, with COVID measures and feed costs possibly prolonging the herd decline.
A shrinking Chinese pig herd would lower demand for corn and soymeal imports, a bearish factor for feed grain and meal prices over the coming years.
czapp.comWang RenApr 25, 2022After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 117 past bearish macro events, Soybean Meal moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), and +0.5% over 20.
After 17 past bearish macro events, Lean Hogs moved a median -1.0% over 5 sessions (35% higher; middle half -2.5% to +0.8%), and -1.6% 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.
