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China and Vietnam have culled millions of pigs due to African swine fever, with more than 3.7 million culled across the region according to the FAO. The disease has spread to Laos and smaller outbreaks have been reported in several other Asian countries.
Pork prices have risen sharply globally.
Large herd losses in China and Vietnam cut hog feed demand, which is bearish for corn and soymeal, but the shortage of pork supports import demand for other meats and raises prices for hog-linked feed and protein.
aljazeera.comAPJun 21, 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 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, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), 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.
