Rail backlogs in the United States are delaying shipment of grains as well as processed flour and corn syrup, contributing to the national problem of inflation, food and grain companies said at a hearing this week.
McDonald’s Corp on Thursday said Carl Icahn’s call for the fast food chain to stop buying pork from suppliers that house the animals in crates would be logistically unfeasible and prohibitively expensive.
China appears to be significantly throttling soybean imports this year to well below recent norms following a record haul last marketing year, which had coincided with a meaningful restoration of its hog herd.
Chinese hog farmers should return to profit in the third quarter, a farm official said on Wednesday, after more than a year of heavy losses that have eroded rural incomes and curbed demand for some feed ingredients.
Brazilian pork exporters are grappling with a drop in volumes shipped to their main buyer, China, which has increased its pork meat production after an outbreak of African swine fever in 2018.
China stocks closed down on Monday, with investors disappointed about a smaller-than-expected cut in the reserve requirement ratio (RRR) that many felt might not be enough to reverse a sharp economic slowdown.
China posted its highest quarterly pork production in more than three years during January through March, data showed on Monday, reflecting a boost in breeding following a disease-led decline.
The chief executives of U.S. meatpackers Cargill, Tyson Foods, JBS and National Beef Packing have agreed to testify at a Congressional hearing discussing cattle markets and price increases for consumers.
China’s state planner said on Friday it will buy another 40,000 tonnes of frozen pork for state reserves in its fourth round of stockpiling this year to support prices.
