USDA's Foreign Agricultural Service reported that China's Ministry of Agriculture and Rural Affairs published an interim plan on September 23, 2021, setting province-level sow inventory targets and licensed large-scale farm numbers. The plan took effect September 19.
Official caps and targets on sow herds aim to moderate hog supply swings, which could limit future swings in feed demand for soymeal and corn.
After 26 past neutral policy events, Lean Hogs moved a median -0.9% over 5 sessions (38% higher; middle half -2.6% to +1.7%), and +0.2% over 20.
After 206 past neutral policy events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% over 20.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.