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China's 2016 pork output fell 3.4 percent year on year to 52.99 million tons, its lowest since 2011, according to the National Statistics Bureau. Beef output rose 2.4 percent to a decade high of 7.2 million tons as farmers slaughtered dairy cows, and lamb and poultry output also increased.
A smaller Chinese pork supply supports hog prices and drives more import demand, while higher beef and poultry output adds competing protein supply that may weigh on cattle and chicken prices.
szdaily.comJan 23, 2017After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% over 20.
After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
