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Official data show China's 2020 pork output fell 3.3% to 41.13 million tonnes, far better than analysts expected after the African swine fever-driven drop of 2019. Hog slaughter fell 3.2% to 527 million head, while fourth-quarter output rose 21% year on year.
A stronger-than-expected Chinese pork recovery means higher sustained feed demand, supporting corn and soymeal consumption in China and import needs.
thepigsite.comMegan HowellJan 18, 2021After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% 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.
