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COFCO Meat is importing pork from Chile and Europe as the US-China trade war raises costs for Chinese farmers. China's 25% tariff on US soybeans has pushed up soymeal prices, and COFCO Meat's chairman said each 100 yuan per tonne rise in soymeal adds only a small amount to production costs.
Tariff-driven soymeal price increases raise feed costs for Chinese hog producers and shift pork supply toward imports, which supports soymeal prices and adds to pressure on hog margins.
reuters.comAug 22, 2018After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
