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China's 2018 pork output fell 0.9% to 54.04 million tonnes, surprising analysts who expected a rise. The national hog herd declined 3% to 428.17 million head as farmers liquidated herds amid African swine fever, now found in 25 provinces and municipalities.
Falling pork output and herd size point to stronger pork import demand ahead, but also less domestic feed demand in the near term, which is mixed for feed grain and meal prices.
businesstimes.com.sgJan 20, 2019After 100 past bullish report events, HOGS moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% over 20.
After 399 past bearish report events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
