The China Pork Demand Forecast Model is able to predict China’s pork consumption for the next calendar year 10 months before the USDA's first forecast and 2.5 years before the USDA tends to release its final number. To build the model, which is updated daily, Gro tested over 400 features within price, trade, consumption, supply, climate, demographics, and economic data. Gro starts making forecasts on January 1 of the year preceding the forecast year, giving users time to make normal business decisions around purchasing and sales.
Customers Use the Model to
Why It Matters
As the world's largest pork producer and consumer, China is a key driver of global prices for pork, beef, chicken, grains, and oilseeds. Each additional pound of pork eaten in China requires an additional 5 pounds of grain and oilseed from somewhere in the world. The more pork China consumes, the more corn and soybean meal is needed to raise hogs. Tracking global feed supply and demand is critical for managing shifts in feed prices as meat consumption continues to grow globally. Gro’s China Hog Balance Sheet also pairs with the Pork Demand Model to provide a comprehensive view of hog and pork markets.