With more workers critical to China/Hong Kong's food distribution chain returning from an extended Lunar New Year holiday break, a growing backlog of imported meat will make its way more smoothly into the market.
We enter 2020 with a host of unusual and unpredictable events. In other words, there is huge opportunity for those who can read the signs of the times, says PORK columnists Dennis DiPietre and Lance Mulberry.
Tyson Foods Inc. delivered a mixed bag of quarterly results while retaining an upbeat global meat outlook based on China’s efforts to fill a protein gap because of African swine fever and easing trade tensions.
Joel Haggard, USMEF senior vice president for the Asia Pacific, who is based in Hong Kong, offers observations on how the spread of coronavirus is impacting food demand and distribution in the Greater China region.
U.S. pork exports to Central America set another record in 2019. With Dec. results still to be added, exports to the region already totaled nearly $212 million through Nov. and will finish the year at about $230 million.
USDA’s monthly cold storage report showed cold storage of beef, pork, chicken and turkey was up 3.2% from the same month last year and 7.7% higher than the five-year average coming in at 2.23 billion pounds.
In December, China’s pork imports rose almost four times from a year earlier, according to calculations by Reuters of customs data, as the country bought more pork ahead of the January Lunar New Year holiday.