# China's weak factory PMI exposes pain points in export juggernaut | Reuters

> China's official manufacturing PMI slipped to a five-month low in July as factories faced falling new orders and weak prices. Factory gate prices fell at their worst pace in 13 months and employment remained in contraction. Analysts doubted that measures to support household consumption would meaningfully help.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: report · region China · magnitude medium
- Page: https://feedsoft.ai/events/9351-china-s-weak-factory-pmi-exposes-pain-points-in-export-juggernaut-reuters
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Weak Chinese industrial activity signals softer demand for feed ingredients and livestock products, which pressures meal and grain prices, while the slowdown reduces the case for stronger hog and poultry feed usage.

## Read by commodity

- SBM: bearish ▼
- CORN: bearish ▼
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-01-19 | [China’s 2022 pork output rises to highest in eight years](https://feedsoft.ai/events/37766-china-s-2022-pork-output-rises-to-highest-in-eight-years.md) | -2.5% | +1.9% |
| SBM | 2018-03-16 | [Lower prices signal pork sector recovery continues in China](https://feedsoft.ai/events/65975-lower-prices-signal-pork-sector-recovery-continues-in-china.md) | -0.8% | +3.2% |
| SBM | 2018-07-12 | [China cuts soybean import forecast in face of trade war](https://feedsoft.ai/events/63895-china-cuts-soybean-import-forecast-in-face-of-trade-war.md) | -1.4% | +1.2% |
| SBM | 2023-01-09 | [Report: China's soybean imports will decline by 2030 \| Feed & Grain](https://feedsoft.ai/events/37769-report-china-s-soybean-imports-will-decline-by-2030-feed-and-grain.md) | +1.7% | -1.2% |
| SBM | 2021-10-18 | [China posts highest Q3 pork output in three years as herd recovers \| Financial Post](https://feedsoft.ai/events/44515-china-posts-highest-q3-pork-output-in-three-years-as-herd-recovers-financial.md) | +2.5% | +10.4% |
| CORN | 2025-02-02 | [China’s Import Declines Reflect Broader Demand Weakness](https://feedsoft.ai/events/14687-china-s-import-declines-reflect-broader-demand-weakness.md) | +0.6% | -3.9% |
| CORN | 2018-03-16 | [Lower prices signal pork sector recovery continues in China](https://feedsoft.ai/events/65975-lower-prices-signal-pork-sector-recovery-continues-in-china.md) | -2.0% | +1.9% |
| CORN | 2017-02-09 | [China forecasts corn imports at decade low, spooking exporters](https://feedsoft.ai/events/72353-china-forecasts-corn-imports-at-decade-low-spooking-exporters.md) | +1.2% | -0.8% |

## Sources

- reuters.com: https://www.reuters.com/world/china/chinas-july-factory-activity-shrinks-services-grow-more-slowly-2024-07-31/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.