Pork producers are relishing rising pork prices, with lean hog futures skyrocketing since March. Much of that momentum is from China coming back to the market to buy U.S. pork. That's as products like hams still face major headwinds from tariffs.
Pork export volume was down 9% from a year ago in February to 186,745 metric tons (mt), while export value dropped 17% to $455.9 million — the lowest monthly value total since February 2016. For January through February, pork exports were 5% below last year’s pace in volume (388,580 mt) and 13% lower in value ($950 million).
The U.S. is well positioned to help fill any additional need that China has for pork, said Joe Schuele, U.S. Meat Export Federation, “but we’d be in a lot better position if we weren’t facing a tariff that’s five times higher than everybody else.”
More than 125 pork producers participated in the Spring Legislative Fly-in to talk trade issues with state and national leaders. Four central priorities remain to get the pork industry free access to foreign markets.
African Swine Fever is continuing to be a problem in China. What’s the impact on American soil to the hog market?
AgDay Host Clinton Griffiths has some analysis with Suderman on what that could mean for the global protein market.
Now that the Mueller report is in the rear view mirror, an emboldened President Donald Trump may take a more aggressive stance on China, lengthening the trade talks, according to Pro Farmer policy analyst Jim Wiesemeyer.