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African swine fever was detected in a Yunnan pig herd, the third case in China this year, and 36 piglets were culled. Chicago lean hog futures jumped by the daily limit, and soybean futures eased.
The disease has also been reported in Malaysia, South Africa and Germany.
ASF in China raises expectations of higher meat imports and could cut hog numbers and feed demand there, which lifts U.S. hog prices while weighing on soybean and corn export expectations.
caixinglobal.comMar 4, 2021After 177 past bullish disease events, Lean Hogs moved a median +0.2% over 5 sessions (52% higher; middle half -1.8% to +2.7%), and +0.9% over 20.
After 50 past bearish disease events, Soybeans moved a median +0.5% over 5 sessions (58% higher; middle half -1.7% to +2.4%), and +0.0% over 20.
After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% 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.
