U.S. Pork Exports Shatter Value and Volume Records
Though many will want to forget 2020, U.S. pork producers may not be in that same camp.
Though many will want to forget 2020, U.S. pork producers may not be in that same camp.
Driven by higher estimates for pork, total meat import forecasts for China in both 2020 and 2021 have been revised higher.
U.S. pork exports to China have skyrocketed this year as African Swine Fever (ASF) eroded two-thirds of China’s hog herd and drove its hog prices to record highs.
Chinese demand for U.S. pork is leading to a record pace for exports, according to data released recently by USDA.
Last week, the CME Group announced the launch of a new cash-settled pork cutout contract intended to complement existing lean hog contracts.
July exports of U.S. pork, which are on a record pace in 2020, were down from a year ago but increased compared to June according to statistics released by USDA.
With more alternative meat products available to consumers, will traditional meat producers lose market share?
Before April, few could imagine a supply chain shock where U.S. pork production could fall by nearly half yet climb back to above prior-year levels two months later.
(WASHINGTON, DC) The National Pork Producers Council (NPPC) is calling for an end to a […]
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