Pig prices in the US are disappointing, says expert
The US pig producers can't take advantage of the ongoing ASF situation in China or even the disappearance of tariffs in the Mexican market. The Lean hog price of 79? lb. for 53-54% hogs is the same as a year ago. Since the dropping of Mexico’s tariffs on US pork, there's been a continued decline in US cash hog prices, according to Jim Long, President and CEO, Genesus Inc. Cold weather in the US and no improvement on USDA pork cuts-out haven't been supportive for the pig market, mentioned Mr. Long in his report on the US pig market.
"Demand from China has not aggressively come into global import markets yet. We still expect this to happen. Our expectation this will occur to a greater extent in the last half of the year. China hog supply will decline further due to ongoing herd liquidations (last month down 700,000). Many Chinese expect their hog prices to appreciate 50%, from the current level of about $1.00 U.S. liveweight a lb. to close to $1.50 lb. (i.e. up to $100-$125 per head).
Currently, due to African Swine Fever (ASF) in Russia, China will not import Russia pork. The ongoing discussions on importing pork from Russia despite ASF is an obvious sign of China’s pork needs", said Jim Long.
Nevertheless, US pork exports in China are subject to tariffs up to 65% due to the trade war opened between the two countries and that creates advantages for other big exporters such as Germany, Spain, and Brazil.
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