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Chinese agriculture ministry officials said pork production is likely to bottom out before year end and return to normal next year, citing rising hog stocks and gilt sales that rose over 70% in September. Wholesale pork prices jumped 14.8% in the week to October 13, and prices are expected to stay high through the New Year holidays.
A possible turn in Chinese hog production suggests restocking will gradually rebuild feed demand, though high pork prices and tight supply through early 2020 keep near-term meat import demand firm.
en.people.cnF_488Oct 17, 2019After 26 past neutral policy events, HOGS moved a median -0.9% over 5 sessions (38% higher; middle half -2.6% to +1.7%), and +0.2% over 20.
After 439 past neutral policy events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 206 past neutral policy events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% 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.
