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China's feed industry is shifting from rapid growth toward slower output expansion, with some mill closures and a focus on safety and sustainability. Alltech's chief innovation officer says the industry no longer grows by about 10 million tonnes per year, and 2017 feed output is likely to exceed 200 million tonnes, up 1-2%.
Slowing growth in China's feed demand, with feed use per unit of meat declining, reduces the pace of import demand for feed ingredients and tempers long-run price support for corn and meal.
world-grain.comSusan ReidyDec 19, 2017After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 117 past bearish macro events, Soybean Meal moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), and +0.5% 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.
