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China's pork output in the first quarter of 2022 rose 14 percent year on year to 15.61 million tonnes, the highest quarterly level since late 2018. Hogs slaughtered rose 14.1 percent to 195.66 million, while wholesale pork prices in early April were half the year-earlier level.
Heavy hog slaughter and weak pork prices point to lower near-term Chinese feed demand, though expected herd contraction could later support feed use decline.
ukragroconsult.comApr 19, 2022After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
After 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.
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.
