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CattleFax says African swine fever has cut China's hog herd by about half, prompting global pork expansion, including about 18% growth in US pork. It forecasts fed steer prices averaging $120 per cwt in 2020 and expects grain markets to be weaker.
Strong global protein demand from ASF-driven pork shortages supports cattle and meat prices, while softer grain expectations help feedlot margins and feed costs.
agriculture.comGene JohnstonFeb 7, 2020After 148 past bullish disease events, Live Cattle moved a median +0.4% over 5 sessions (62% higher; middle half -0.5% to +1.2%), and +1.4% over 20.
After 177 past bullish disease events, Lean Hogs moved a median +0.2% over 5 sessions (52% higher; middle half -1.8% to +2.7%), and +0.9% 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.
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.
