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China's pork output in July-September 2021 reached 12.02 million tonnes, up 43% year on year and the highest since Q3 2018. Output for the first three quarters rose 38%, driven by large producers that built new breeding farms.
Prices have fallen 65% so far this year, prompting some farmers to exit.
Rapid herd rebuilding and higher pork supply point to lower hog prices and softer feed demand, which is bearish for meal and grain demand from China.
在过去 159 次看跌的报告事件之后,生猪(瘦肉型) 在 5 个交易日内中位数变动 -0.2%(47% 上涨;中间一半区间为 -2.2% 至 +1.3%),20 个交易日内为 +1.0%。
在过去 399 次看跌的报告事件之后,豆粕 在 5 个交易日内中位数变动 -0.4%(44% 上涨;中间一半区间为 -2.4% 至 +1.2%),20 个交易日内为 -1.0%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件;仅描述已发生的情况,不代表未来走势。不构成投资建议。