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An official from China's Ministry of Agriculture and Rural Affairs said hog breeders, who are losing money after pork prices plunged, should return to profit in the third quarter. Hog prices rebounded late in March after a 16-week slump, and a record number of pigs was slaughtered in early 2022.
Expected herd liquidation and falling feed costs point to softer Chinese feed demand later in the year, though the near-term outlook for hog numbers remains uncertain.
yicaiglobal.comDou ShicongApr 20, 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, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% 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.
