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Rabobank's July Pork Quarterly says China's hog prices fell below imported pork prices from mid-February to mid-June 2021, due to African swine fever and herd liquidation. Rabobank expects a Q3 slaughter decline and a hog price rebound in the second half.
China's 2021 pork imports are forecast to fall 10% to 20%.
Lower Chinese pork import demand and a sharp drop in hog prices weigh on global pork markets, while a rebound in the second half would reduce pressure on hog margins and feed demand.
feedstrategy.comAnn ReusAug 2, 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.
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.
