ASF in Germany rises pig prices in the US
Pig prices in the world are tumbling as Germany reported last week its first case of African swine fever in wild boars. In the European country, pig prices per kilo have dropped from €1.47 to €1.27 in just a few days, while in other parts of the world have increased almost unexpectedly. "In the USA, Lean Hog Futures Thursday-Friday jumped as much as $13 per head higher," reports Jim Long, President and CEO of Genesus INC. In his opinion, prices in the US and Canada will continue to rise as several Asian countries who have banned pork imports from Germany are now searching for other suppliers. " Now, these countries will need to find pork somewhere else or go without. The obvious countries to gain from the import ban will be USA, Canada, Brazil, and Spain as they are the only countries that have significant pork supply that can shift to their Asian countries.
Germany which is part of the European Union will be able to continue to move pork to other EU countries other than from ASF restrictive zone (not that big an area). This will probably depress hog prices in other areas of Europe as we doubt the other EU countries can increase non-EU exports to counterbalance the deluge of pork that Germany will put in the EU market.
In the U.S. a market that was already beginning to see the front end of lower hog supplier due to sow herd liquidation will now be getting the dynamics of the market supercharged with enhanced export demand," commented Mr Long.
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