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USDA economist Mildred Haley reports that Chinese hog prices have kept falling since mid-2016 despite closures of hundreds of thousands of small farms for environmental compliance. Chinese pork imports fell about 9% in 2017 and are expected to be roughly 3% lower in 2018 than 2017.
Lower domestic Chinese pork prices and reduced import demand weaken the outlook for global pork trade and reduce feed demand tied to imported pork production.
feedstuffs.comMar 16, 2018After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
