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Farm Policy News cites a USDA FAS report that African swine fever has cut China's 2019 swine inventory by a forecast 13% and pork output by 5%, with China's pork imports seen rising 33% to 2 million tonnes. The article notes that a Wall Street Journal report linked the recent surge in US hog prices to Chinese buyers turning to US supply.
Expected Chinese import growth to fill its pork shortfall supports US hog and feed demand, and it lifts the outlook for US pork exports.
farmpolicynews.illinois.eduKeith GoodMar 28, 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 67 past bullish disease events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.9%), and +0.4% over 20.
After 56 past bullish disease events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.5% to +1.6%), 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.
