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Xinhua reports China's pork prices have retreated for eight consecutive weeks as hog production and sales recovered in March. The sow herd in 400 monitored counties grew 2.8% month on month in March, and 18,000 new pig farming enterprises were added since March.
Officials say the market is shifting from tight supply toward balance, with seasonal consumption affecting near-term prices.
Rebuilding hog supply reduces China's feed demand growth, which is bearish for soymeal and corn imports and weighs on global feed grain prices.
xinhuanet.comApr 23, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
