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China's domestic pig slaughter rose 9.4% year on year to 18.7 million head in September, while sow and live hog inventories fell to historic lows since 2014. Pork imports in January to September totaled 920,508 tons, down 28% year on year, and hog prices were trending lower.
Falling Chinese pork imports and low breeding inventories point to reduced import demand and tighter domestic supply later, with hog-breeding margins recovering and supporting farmer restocking that will add future feed demand.
thepigsite.comGlobal Ag MediaNov 30, 2017After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
