Loading…
At the USMEF Spring Conference on May 24, National Pork Board's Dave Pyburn called African swine fever the most devastating disease for the industry. He said China may lose hundreds of millions of pigs and that producers in China are struggling to repopulate herds, with some switching to poultry.
Expected losses of hundreds of millions of Chinese pigs would sharply cut feed demand for soymeal and corn, while a shift to poultry raises demand for poultry feed and pressures pork prices.
meatpoultry.comJoel CrewsMay 24, 2019After 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.
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 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.
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.
