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China is offering fiscal subsidies and expanded insurance to support pig farm construction and contain high pork prices. Pork prices averaged 51.22 yuan per kg in late November, the fourth weekly decline, after more than doubling from June levels by October.
Policy support for farm expansion points to a larger hog herd and higher feed demand later, though falling pork prices in the near term reduce immediate feed pull.
chinadaily.com.cnXIN ZHIMING, LIU MINGTAI, HAN JUNHONG in ChangchunDec 30, 2019After 34 past bearish policy events, HOGS moved a median -0.3% over 5 sessions (41% higher; middle half -1.6% to +1.3%), and -1.8% over 20.
After 172 past bullish policy events, SBM moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
After 318 past bullish policy events, CORN moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.
