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China's NDRC issued a level-three warning after hog prices fell sharply, triggering a new pork reserve mechanism that could lead to state buying. Live hog prices have tumbled in the first half of 2021 as farmers expanded production after African swine fever.
Potential state pork purchases may limit further hog price declines and could slow herd culling, supporting feed demand over the medium term.
caixinglobal.comLiao ZhaolongJun 17, 2021After 37 past bullish policy events, Lean Hogs moved a median +0.0% over 5 sessions (51% higher; middle half -2.8% to +0.9%), and +0.2% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% 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.
