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USDA's Economic Research Service reports China's pork imports have fallen about 52 percent from a year ago as domestic production recovers. Imports from the US, Canada, EU and Brazil are all sharply lower, and feeder pig, pork and live hog prices are below year-ago levels.
Weaker Chinese pork imports reduce global demand for animal protein and imported feed inputs, which is bearish for feed ingredient demand and hog prices outside China.
primary.ers.usda.govSep 22, 2017After 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.
