# Hogs on Biggest Losing Streak in a Year Amid Export Worries

> Chicago lean hogs fell by exchange limits on Wednesday, extending a losing streak to five sessions, the longest in a year. Signals that China may slow overseas purchases as its domestic herd rebuilds weighed on prices. Soybeans also fell on slow U.S. crush and biofuel policy concerns.

- Date: 2021-06-16 · published 2021-06-16T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/6258-hogs-on-biggest-losing-streak-in-a-year-amid-export-worries
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Reduced Chinese pork import demand lowers US hog export expectations, pressuring hog prices and soybean meal demand from crushers. Feed buyers face softer livestock pricing signals.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- HOGS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2021-06-16 | 1 | -3.7% | -3.0 | Dated June 16, the same day as the move: soybeans fell on slow US crush and biofuel policy worries, and signs China may slow purchases as its hog herd rebuilds weighed on feed-demand sentiment, which is directly bearish for soymeal. |
| HOGS | 2021-06-22 | 1 | -2.4% | -3.4 | A five-session losing streak driven by worries that China will slow purchases as its herd rebuilds reduced export demand expectations and fed continued selling. |
| SOY | 2021-06-16 | 1 | -8.2% | -7.1 | On June 16 soybeans fell on slow U.S. crush, biofuel policy worries and signs China may slow purchases as its hog herd rebuilds, adding demand-side pressure. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2018-05-11 | [U.S. livestock: CME hogs slump amid fund roll, NAFTA worries - AgCanada](https://feedsoft.ai/events/65171-u-s-livestock-cme-hogs-slump-amid-fund-roll-nafta-worries-agcanada.md) | +10.4% | +17.5% |
| HOGS | 2020-06-02 | [Lean hog futures end lower on U.S.-China trade worries](https://feedsoft.ai/events/52771-lean-hog-futures-end-lower-on-u-s-china-trade-worries.md) | -11.2% | -18.2% |
| HOGS | 2025-02-27 | [Hogs Posting Losses on Tariff Concerns](https://feedsoft.ai/events/10623-hogs-posting-losses-on-tariff-concerns.md) | -1.7% | -0.4% |
| HOGS | 2021-07-02 | [Lean hog futures ease on China demand worries \| Reuters](https://feedsoft.ai/events/46231-lean-hog-futures-ease-on-china-demand-worries-reuters.md) | +0.9% | -0.2% |
| HOGS | 2019-03-28 | [U.S. livestock: Lean hogs limit down as export sales disappoint - Grainews](https://feedsoft.ai/events/60238-u-s-livestock-lean-hogs-limit-down-as-export-sales-disappoint-grainews.md) | +2.1% | +12.7% |
| SOY | 2022-11-07 | [Chinese Yuan Weakens Amid Contracting Exports, Imports on Struggling Demand](https://feedsoft.ai/events/6251-chinese-yuan-weakens-amid-contracting-exports-imports-on-struggling-demand.md) | +0.3% | -0.9% |
| SOY | 2024-02-08 | [US farm exports hit three-year low in 2023 as China slows buying](https://feedsoft.ai/events/14771-us-farm-exports-hit-three-year-low-in-2023-as-china-slows-buying.md) | -1.6% | -2.7% |
| SOY | 2018-10-18 | [Trade off: China soybean imports set for biggest drop in 12 years amid tariff conflict](https://feedsoft.ai/events/62396-trade-off-china-soybean-imports-set-for-biggest-drop-in-12-years-amid-tariff.md) | -4.0% | -1.7% |

## Sources

- news.bloomberglaw.com: https://news.bloomberglaw.com/international-trade/hogs-on-biggest-losing-streak-in-a-year-amid-export-worries

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.