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China's National Bureau of Statistics reported 2019 pork output of 42.6 million tonnes, down 21.8%, with slaughter down 21.6% to 544.2 million head. The year-end pig herd stood at 310.4 million head, down 27.5%.
Poultry output rose 12.3% while beef production increased 3.6%.
A much smaller Chinese hog herd cuts feed demand for soybean meal and corn, while higher pork prices and imports support global meat trade.
just-food.comDean BestJan 21, 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
