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Wuhan and Hubei lockdowns from January 2020 disrupted Chinese poultry production, as transport limits stopped soybean meal reaching farms and forced culling of young birds. China then lifted the ban on US live chicken imports to ease a protein shortage, which was compounded by African swine fever's cut to the hog herd.
Chinese import demand for chicken and pork is rising to fill the domestic protein gap, which supports feed demand and export flows for US and other feed grains and meals. The shift also points to firmer prices for meat exports.
ew-nutrition.comEW NutritionApr 6, 2020After 729 past bullish trade events, CORN moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 342 past bullish trade events, SBM moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 85 past bullish trade events, HOGS moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% over 20.
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.
