◂ Event Timeline

Jun 16, 2021REPORTChina

U.S. livestock: Hogs limit down on new China stats

CME lean hog futures fell the daily three-cent limit on June 16 after China reported its pig herd rose 23.5% in May from a year earlier. US pork cutout and pork belly prices also dropped.

WHY IT MATTERS

Expanding Chinese herd raises doubts about future US pork export demand, pressuring US hog prices and reducing hog-sector feed demand.

AFFECTSLean Hogs▼

SOURCE
agcanada.comAGCanadaJun 16, 2021

Price reaction & history

Lean Hogs▼bearishSO FAR1d -1.1%5d -6.5%20d -6.5%

After 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.

Jun 29, 2019U.S. livestock: Nearby lean hogs drop on continued herd expansion - AgCanada-2.7%
Jun 30, 2023U.S. livestock: CME nearby hog futures up ahead of herd data - AgCanada+4.0%
Jun 25, 2021U.S. livestock: July hogs limit-down to lowest since late March - Grainews+2.6%
Oct 2, 2023U.S. livestock: CME lean hogs extend selloff on supply view - Grainews-0.2%
Oct 12, 2018U.S. livestock: Cattle futures rise on cut in beef production estimate - AgCanada-14.1%

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.

Linked price moves

Lean Hogs-2.4%1 period to Jun 22, 2021-3.4σ
China's May herd up 23.5% year on year and falling US cutout signaled weaker export demand and added to the downward pressure.

Lean Hogs HOGS · GP ▸

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