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Reuters reports that China is modernizing its pig farms to cut costs in the world's largest pork market. More than half of the country's nearly 700 million pigs come from family farms that slaughter fewer than 500 a year.
Production costs remain among the world's highest because of heavy reliance on imported soybeans.
Shifting hog production toward larger, more productive farms could raise long-run demand for soymeal as feed efficiency improves. Continued dependence on imported soybeans keeps China's feed demand tied to global soybean and soymeal prices.
reuters.comDominique PattonFeb 6, 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 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
