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Global pork prices in flux due to ASF

China's pork supply will determine trading trends for meat and oilseeds.

Thursday 10 January 2019 (4 months 14 days ago)
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According to analysts interviewed by China Daily, prices of soybeans - the main ingredient in livestock feed - may soften owing to slower demand as China culls thousands of pigs to bring the disease under control.

International hog prices, however, are expected to go up as China is seen to import pork to fill the potential shortfall in domestic supply.

China is the world largest soybean buyer and the country's soybean imports affect prices of soybeans and other oilseeds. As such, the ASF situation in China is one of the key factors that will move soybean prices in the coming months.

According to data from the US Department of Agriculture, China buys for more than half of the over 150,000 metric tons of soybeans traded each year.

The USDA forecasts that China's soybean imports will slide to 90 million tons in 2019, from the previous year's 94.12 million tons.

The USDA also cited the ASF as one of the factors that will support the global pork trade. It expects pork exports to rise by 3 percent, thanks mainly to higher demand from China.

Tuesday January 8, 2019/ China Daily/ China.
http://usa.chinadaily.com.cn

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