China's Ministry of Agriculture and Rural Affairs reported the national live pig price fell 2.8% month-on-month to 10.41 yuan/kg in the week of October 26 to November 1. Pork market prices dropped 1.2% to 20.35 yuan/kg, and wholesale pork averaged 15.49 yuan/kg, down 1.3% month-on-month and 13.8% year-on-year.
Continued weakness in Chinese hog prices signals ample domestic pork supply and weak producer margins, reducing import demand for feed ingredients like soybean meal and corn. This bearish backdrop pressures hog-related feed demand and sentiment.
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.