China June pork imports surge 62.8% from a year earlier.
China’s pork imports in June surged from the previous year, customs data showed on Tuesday, as the world’s top consumer of the meat stocked up on supplies after African swine fever has decimated domestic pig herds.
As someone I used to work with famously said, "Bad things happen to bad people."
China’s wholesale pork prices rose rapidly in the first-half of March, triggering large purchases of meat from overseas markets, including the United States. They have been rising rapidly again in recent weeks, with China’s average wholesale pork prices rising 36.4% from a year earlier to 23.76 yuan ($3.45) per kg as of July 19.
Hog future prices (Oct contract) went up 3% today to 82 cents per pound.
ReplyDeletehttps://money.cnn.com/data/commodities/
China purchased Smithfield products here in Hampton Roads Va. Smithfield is an exclusive pork product manufacturer. I wonder where the moajority of their products are heading? Maybe the cause of the increase in Chinese ships I have seen in the Port of Norfolk?
ReplyDelete