China’s near-term hog supply remains high because current market-ready pigs reflect earlier breeding capacity, and productivity gains are slowing the effect of lower sow inventories. Large farms are limiting costs and slaughter weights rather than rapidly culling sows, while pork demand remains weak and poultry provides a substitute.
Persistent hog availability and muted demand keep pressure on live-pig prices, limiting the prospect of a quick recovery. Substitution by poultry also restrains pork demand.
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.