Smithfield, JBS gorge on China pork opportunity as prices fall, sales surge — Panjiva
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Smithfield, JBS gorge on China pork opportunity as prices fall, sales surge

Ags - Meat/Dairy 268 China 3047 Consumer Staples 804 Trade Deals 1017 U.S. 5398

The global pork market may be facing tough times ahead. The Chairman of Muyuan Foods, Qin Yinglin, has stated that “”the big trend over the next two to three years is that (pork) prices will move from high to low” in part due to China’s pork industry recovering from African Swine Flu. U.S. lean hog prices already fell by 17% year-to-date. Increased supplies in China may trim imports from the U.S., putting the already fragile phase 1 trade deal at risk. That comes as U.S. pork exports by sea fell by 17.2% year over year in April, in part due to processing plant closures linked to COVID-19...

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