Swine news - Economy

Through a joint effort between the private and public sectors, Ecuador exports 27 tons of pork to Vietnam. This export is the result of a search for new markets for Ecuadorian products carried out by the authorities and representatives of private companies.

The mitigation measures will help to prevent the spread of ASF across the border, protecting the pig sector worth over £8 billion to the UK economy.

EU agri-food trade is proving to be strong as its surplus reached €33.7 billion between January and June 2024.

Imports of animal feed and raw materials increased by 2.2% year-on-year in the first seven months of 2024.

The tariff exclusion process introduced by the State Council Tariff Commission (SCTC) in March 2020 remains in effect.

Swine production is expected to decline in 2025 due to weak demand and a smaller inventory of hogs for slaughter.

The swine inventory in 2025 is expected to grow due to a recovery in the number of sows. Animal health and management techniques could improve the number of pigs per sow per year.

Australian pork production is expected to continue to increase in 2025. Despite stable projections for pork imports and exports in 2025, the U.S. has reestablished itself as Australia’s primary source of pork imports.

Higher slaughter numbers and carcase weights have helped production in key producing countries, according to AHDB.

In the first eight months of 2024, Vietnam spent more than 1 billion USD to import meat and meat products. The trade deficit was about 970 million USD.

The number of breeding and replacement sows in the technified production sector increased, according to the latest ICA data.

In total, 2,483199 head were slaughtered and approved for consumption in the first half of 2024, 0.15% more than in 2023.

Since the beginning of this year, 192.8 tons of pork from Russia's Tomsk region have been exported to Vietnam.

Pork exports grew 4% in June 2024, but are down 3.5% year-to-date.

Pork exports were well above year-ago levels in July, led by a value record for shipments to Mexico.

Pork production in the first seven months of the year grew 2.3% compared to the same period in 2023.

Spanish agri-food and fisheries exports increased by 3% in 2023 and exceeded 70,000 million euros for the first time.

Planting intentions for the new season continue to fall, discouraging early grain marketing. Futures prices are rebalancing on expectations of a higher proportion of early corn.

In the first half of the year pig slaughter decreased by 0.83%.

The import of pigs for slaughter decreased by 4.1% in the first half of 2024 compared to the same period in 2023.

Argentina regains ground in the global soybean meal market, overcoming the effects of the 2023 drought. Consolidation of the sector is essential to maintain global competitiveness.

In the first half of this year, Chinese pork and offal imports decreased by 28%.

EU farmers will receive higher CAP advances to ease liquidity issues, up to 70% for direct payments and 85% for rural interventions.

Compared to the July report, cuts were made to corn production in the European Union and Ukraine, while estimates for the United States and Argentina improved slightly. Global soybean production, trade, and ending stock forecasts increased, supported by increases in the U.S. harvest and exports.