Loading…
China's pig inventory fell 32.2 percent year on year in July, and sow numbers were down 31.9 percent since the first ASF outbreak a year earlier. Slaughter hog prices have climbed steadily since May and have surpassed the 2016 record.
Shrinking herd size reduces feed grain and meal demand in China, a bearish factor for US soymeal and corn exports, while the high hog price supports Chinese hog margins and restocking intentions.
thepigsite.comLaurence WilliamsAug 30, 2019After 177 past bullish disease events, HOGS moved a median +0.2% over 5 sessions (52% higher; middle half -1.8% to +2.7%), and +0.9% over 20.
After 175 past bearish disease events, CORN moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 167 past bearish disease events, SBM moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% 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.
