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Chinese political advisers proposed measures to revive the pork industry hit by African swine fever, and the agriculture minister said hog numbers have risen for three straight months. Output is expected to approach pre-outbreak levels from August 2018, and pork price rises should ease as supply gaps narrow.
Vaccine research is being accelerated.
Expected recovery in Chinese hog output reduces import needs over time, which is bearish for feed demand and pork import-linked prices.
chinadaily.com.cnWANG XIAODONGJun 4, 2020After 34 past bearish policy events, Lean Hogs moved a median -0.3% over 5 sessions (41% higher; middle half -1.6% to +1.3%), and -1.8% over 20.
After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), 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.
