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Disease outbreaks including PEDv and PRRS are killing pigs in Mexico, shrinking its herd. Mexico is turning to U.S. pork, with the U.S. shipping record amounts and Mexico the top buyer of American pork in the latest week.
Rabobank says farmers are also cutting herds because feed has become expensive after Russia's invasion of Ukraine.
Stronger Mexican import demand for U.S. pork tightens domestic supply and supports hog and meat prices. High feed costs are reducing herd size, which further reinforces the bullish supply outlook.
bloomberglinea.comMichael Hirtzer, Dominic CareyMar 27, 2022After 177 past bullish disease events, HOGS moved a median +0.2% over 5 sessions (52% higher; middle half -1.8% to +2.7%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
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.
