Loading…
A Malaysian Palm Oil Council update says China's hog production is recovering after African swine fever, which pushed live hog prices to a record near RMB40/kg in late 2019. Production was further hit at the start of 2020 by coronavirus lockdowns affecting transport and supply.
A recovering Chinese hog herd implies rising feed demand over time, which supports meal and oilseed demand, though the article is a general background piece with no fresh price shock.
mpoc.org.myMay 8, 2020After 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 66 past neutral report events, Palm Oil moved a median +0.2% over 5 sessions (58% higher; middle half -0.4% to +2.0%), and +2.2% 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.
