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Dalian-traded hog futures in China fell to record lows, down more than 30% since their January launch. Farmers are mass-slaughtering pigs over fears prices will keep falling, leaving the local market flooded with pork.
The situation contrasts with earlier African swine fever-driven price surges.
A Chinese pork glut lowers domestic hog demand for imports and reduces import needs for feed ingredients, a bearish signal for global pork and feed trade. Falling hog prices in China reduce incentive to restock sows.
ftchinese.comHudson Lockett, Thomas HaleJun 15, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
