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Hog futures for the January 2027 contract closed down 3.68% on the previous day, and spot hog prices fell in Henan and Jiangsu while holding flat in Sichuan. Analysts expect continued heavy fourth-quarter slaughter pressure, with seasonal curing demand providing only limited support.
Heavy hog supply outweighing seasonal demand keeps prices weak, which limits hog-farm feed purchasing and pressures feed demand in China; disease risk is the main upside wildcard.
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.