News

China pork imports forecast to be up more than 30%

The USDA Foreign Ag Service is forecasting a more than 30 percent rise in Chinese pork imports because of African swine fever.

Minnesota Pork CEO David Preisler says that’s good news for U.S. pork producers.

“There’s only really so many places to get pork. The United States, Canada, and Western Europe, and those are really the (only) places they can go to get the sort of volumes (China) would be looking for.”

The USDA report reduces the Chinese hog herd 13 percent to 374 million head.

Preisler tells Brownfield the situation in China is increasingly bullish for pork prices.

“Last week in the futures market we probably had one of our best weeks in several years, and it’s held on to that so far this week. And really that’s all built on what may happen with African swine fever in China.”

He says China has resumed importing U.S. pork even with high tariffs in place.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!