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USMEF reports China's African swine fever outbreak has reached 54 cases, with a case in a major pork-producing province. Chinese animal transport restrictions are causing panic selling, pushing prices in some hit provinces below breakeven.
Expected herd reductions in China and lower domestic hog prices point to reduced pork output and higher import demand later, which supports global pork and feed demand.
brownfieldagnews.comLarry LeeNov 5, 2018After 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.
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.
