Europeans may have to pay more for barbecues this summer as African swine fever decimates hog herds around the world. Producers in the European Union are the big winners, with sales to China climbing 43% through May.
The bulk of Chicago Mercantile Exchange live cattle contracts closed lower on Friday, pressured by the morning’s bearish U.S. Department of Agriculture (USDA) monthly Cattle-On-Feed report, said traders.
Germany said any escalation of U.S. tariffs on metal imports into a full-blown trade war could cause tangible damage to the global recovery, although the tariffs themselves should have only a limited effect.
Chicago Mercantile Exchange lean hog futures fell about 2 percent in a technical selloff on Tuesday, easing from an earlier two-month high in a reversal that could portend further declines, traders and analysts said.