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Chinese pig farmers are expanding hog production in the northeast provinces of Heilongjiang, Jilin, Liaoning and Inner Mongolia. Some researchers expect output in the region to reach nearly 120 million pigs a year, almost double last year's 69 million head.
A large shift of hog output northward would reshape Chinese demand for feed grains and meal, and alter pork import needs in the world's largest pork market. Bearish feed demand sentiment in traditional southern regions could be offset by new northern feed demand, with the net price impact on corn and soymeal uncertain.
reuters.comDominique PattonNov 23, 2017After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.
After 28 past neutral trade events, Lean Hogs moved a median -0.4% over 5 sessions (46% higher; middle half -2.2% to +0.7%), and -0.3% 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.
