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China's September pig census fell 3% from August and 41.1% year on year, with the sow census down 38.9% year on year. Slaughter weights are rising as hog prices climb, and producers are retaining gilts to rebuild herds.
Continued herd contraction reduces Chinese feed demand for grains and meal, while gilt retention signals future restocking that will eventually lift feed demand.
thepigsite.comLaurence WilliamsOct 23, 2019After 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 98 past neutral disease events, Soybean Meal moved a median -0.2% over 5 sessions (44% higher; middle half -1.9% to +1.5%), and -0.4% over 20.
After 145 past neutral disease events, Corn moved a median +0.4% over 5 sessions (58% higher; middle half -1.2% to +1.7%), and +0.0% 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.
