The Philippines is investigating a rise in pig deaths in some areas for the deadly African swine fever virus, although no cases have been confirmed yet.
Beef packer continued with a stranglehold on cattle markets last week, buying a few cattle to fill their needs at lower money and keeping operating margins historically high.
The National Pork Producers welcomed progress by the Trump administration on a number of issues under the bilateral Trade and Investment Framework Agreement (TIFA) with the Philippines.
U.S. beef export growth to the Philippines is being driven in part by the proliferation of Korean-style barbecue restaurants. Meanwhile pork exports are down, but are expected to pick up, says Joel Haggard, USMEF.
U.S. red meat and poultry production is increasing at a rapid rate, and market analysts warn cattlemen to be prepared for pressure on prices the rest of 2018.
ASF is triggering nearly $20 million in losses a month in the Philippine hog industry, agricultural officials said on Friday, after the virus was detected in some processed pork products.
2018 was a record year for U.S. pork exports to South America, driven in large part by strong increases in pork muscle cut shipments to Colombia and Peru, which increased about 40% year-over-year.