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China’s live hog futures rose more than 2% on November 9, extending a rebound from a November 5 contract low. The article reports that breeding sow numbers fell to 36.02 million at the end of the third quarter, below the 37.5 million normal-retention level, and declined for a ninth consecutive month in October; it cautions that the futures rebound does not yet confirm a market turning point.
A shrinking breeding herd points to tighter future hog supplies and could support hog prices, while lower production would reduce demand for feed grains and meal. Current low spot prices and continued marketing pressure mean the extent and timing of any recovery remain uncertain.
sfccn.comNov 9, 2026After 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 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), 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.
