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Xinhua reports China is stepping up policy support for large-scale hog farming and removing farming bans to help rebuild production. The article notes the herd has shrunk substantially due to African swine fever and the prior low-price cycle, and that the weekly lean hog price in 16 regions has risen sharply.
Policy support for herd recovery points to future feed demand growth, but near-term hog supply remains tight, supporting pork prices. Feed buyers should expect a gradual rebound in feed demand rather than an immediate one.
xinhuanet.comSep 28, 2019After 37 past bullish policy events, HOGS moved a median +0.0% over 5 sessions (51% higher; middle half -2.8% to +0.9%), and +0.2% 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.
