The Swine Health Information Center's April monitoring report flagged foot-and-mouth disease activity in China and Korea as the highest concern. A herd of 1,200 sheep was affected in Henan, a swine-dense province, and a Korean farm outbreak was the first since February 2017.
FMD activity in major Asian pork producers could disrupt Chinese pork output and import demand, and it reinforces the risk of trade restrictions on pork exports from the US.
After 69 past neutral disease events, Lean Hogs moved a median -0.2% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -1.6% 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.