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Hog futures fell as the coronavirus spread in China, with reports that China under-reported cases and the WHO warning the outbreak could go in any direction. Rabobank forecasts China's pork output could fall 20 percent in 2019 levels this year.
Supply chain disruptions are also hitting meat distribution to Chinese consumers.
Expected weaker Chinese pork demand from the outbreak is bearish for US hog prices, although a likely rise in Chinese pork imports offsets some of that pressure.
thepigsite.comEmily HoughtonFeb 17, 2020After 117 past bearish disease events, 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.
