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China's pork industry is undergoing structural changes, and African swine fever in the hog herd is creating regional supply and demand imbalances. Pork production has shifted to northern and southwestern provinces away from urban demand centers, and government movement controls on live hogs and meat have depressed prices in northern China.
Reduced hog numbers and regional pork gluts cut demand for feed grains and soymeal in China, which weighs on feed-ingredient prices and China's import needs.
dtnpf.comKatie DehlingerDec 4, 2018After 117 past bearish disease events, Lean Hogs moved a median -0.6% over 5 sessions (36% higher; middle half -2.2% to +1.6%), and +1.2% 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.
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.
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.
