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China's State Council said it will add measures to restore hog production, including removing unjustified bans on pig farms, after consumer prices rose 3.8% year-on-year in October. Pork prices more than doubled year-on-year, and the wholesale pork price reached 51.18 yuan per kg on November 8.
The Cabinet also plans to boost poultry, beef and mutton output.
Policy support for herd rebuilding points to higher future feed demand, while boosting poultry and beef output adds to meat supply and feed use.
english.www.gov.cnNov 12, 2019After 34 past bearish policy events, Lean Hogs moved a median -0.3% over 5 sessions (41% higher; middle half -1.6% to +1.3%), and -1.8% 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.
After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% 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.
