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Rabobank's Q3 2017 Global Pork Quarterly says global pork trade is shifting as China's imports slow while other importers grow significantly. It expects global pork supply to rise further in the second half of 2017 and competition for consumers to intensify.
China's pork prices have fallen about 30% from 2016 records, and its 2017 hog output is forecast to rise about 2%.
Expanding global pork supply and weaker Chinese import demand point to softer hog prices in the second half of 2017. The Rabobank Five-Nation Hog Price Index has been stable so far, but the outlook leans lower.
english.fleischwirtschaft.deJudith ScholzJul 26, 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.
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.
