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An overview of US pork trade notes that the US is the third-largest pork producer and consumer and that China was once its second-largest market. It describes COVID-19 plant closures, a possible meat shortage, and up to seven million pigs at risk of euthanasia.
Lost China demand and processing backlogs point to weaker hog export demand and pressure on hog prices, with possible supply tightening at retail.
globaltrademag.comSarah HubbartJun 2, 2020After 123 past bearish trade events, HOGS moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% 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.
