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Farm analysts warn that COVID-19 shutdowns of meat plants and restaurants have cut demand for livestock and feed, with China's pork sector hit earlier. Soy Transportation Coalition's Mike Steenhoek says row-crop farmers are feeling the knock-on effects through reduced meal demand and transport issues.
Lower meat production reduces demand for soybean meal and corn used in feed, weighing on crush margins and feed grain prices.
dtnpf.comApr 17, 2020After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% over 20.
After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 117 past bearish disease events, Lean Hogs moved a median -0.6% over 5 sessions (36% higher; middle half -2.2% to +1.6%), and +1.2% 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.
