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China's third-quarter pork output rose 43% year on year to 12.02 million tonnes, the highest since Q3 2018, according to Reuters calculations on official data. Output for the first three quarters was up 38% to 39.17 million tonnes.
Rebuilt hog supply with prices down about 65% this year points to ample pork and weaker demand for feed, which is bearish for soymeal and corn imports into China.
financialpost.comReutersOct 18, 2021After 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 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 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.
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.
