September 3, 2020
Higher Chinese pork imports bullish for LHOG
Demand for protein in the world’s most populous nation is rising as evidenced by rising China imports of pork in July. China’s July pork imports more than doubled to 430,000 tons from a year earlier, hitting a record monthly volume according to customs data. On the other hand pork inventory in US cold storage facilities were 464.373 million pounds on June 30, down from 619.454 million a year earlier, according to US Department of Agriculture monthly report. The 25% decline in US pork inventories in twelve months was attributed to slowed plant production after outbreaks of the coronavirus among meatpacking workers. Higher demand and lower supply of pork is bullish for LHOG.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 56.68 |
| Stop loss | Below 53.56 |
Market Analysis provided by IFCMarkets.com
- The People’s Bank of China keeps lending rates unchanged. The Canadian dollar weakens amid falling inflation May 20, 2026
- EUR/USD Near Six-Week Low as Market Tensions Rise May 20, 2026
- Oil prices remain volatile. The Reserve Bank of Australia signals further rate hikes May 19, 2026
- Gold Recovers Some Losses: What’s Driving the Market? May 19, 2026
- Economic activity in China is slowing. Silver has fallen by more than 8% May 18, 2026
- USD/JPY Rises for Sixth Straight Day: Yen Back on the Cusp of Intervention May 18, 2026
- Optimism surrounding the US-China summit in Beijing supported the markets May 15, 2026
- Gold Falls on US Inflation Concerns as Week Ends in Losses May 15, 2026
- The oil market may remain in a state of severe supply shortage until autumn May 14, 2026
- GBP/USD Under Policy Pressure: What Lies Ahead for the Prime Minister? May 14, 2026
