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Pork prices in China have soared as supplies plunge, pushing consumers and restaurants toward cheaper poultry. Wholesale chicken prices are up 33% year on year as pork is substituted.
Demand shift from pork to poultry lifts chicken prices and supports poultry feed demand, a bullish signal for feed grains and meal in China.
reuters.comSophie YuDec 3, 2019Not enough comparable past events yet for a historical read.
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 67 past bullish disease events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.9%), and +0.4% 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.
