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China's 2019 pork output fell to a 16-year low, according to official data released Friday. African swine fever, which reached China in 2018, killed millions of pigs across the country.
A sharp drop in Chinese pork output reduces domestic hog numbers and feed demand, which supports imports of soybean meal and corn while pressuring hog prices lower only if herd losses reverse demand for meat.
reuters.comJan 17, 2020After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
