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Twenty-one listed Chinese hog producers sold 15.67 million hogs in October, down 2.69 million or about 14.6% year on year. Average selling prices fell below 10 yuan per kg, and national average live hog prices dropped to 8.63 yuan per kg in early November, a multi-year low.
Lower Chinese hog output and falling prices point to reduced pork production and weaker demand for feed ingredients such as soybean meal and corn over the coming months.
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.