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Hog prices have dropped below RMB4 per jin in four Chinese provinces, while listed producers' full costs are near RMB5. The sow herd fell 10.7%, but productivity gains are keeping supply heavy as the price slump enters its fourth quarter.
Heavy hog supply and falling prices weaken the outlook for hog-sector feed demand. Producers are cutting costs, which may reduce future feed purchases in China.
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.