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Global pork prices in flux due to ASF

09 January 2019

China is entering the year of the pig on an apt note - its huge pork industry is sending ripples across the global commodities chain.

Traders, analysts, farmers and other stakeholders are closely monitoring how China is managing the African swine fever cases. China is the world's biggest pork producer and consumer, and ASF's impact on its pork supply and demand will determine price trends in the global meat and oilseeds trade.

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.

"It's possible that demand for animal feed would decline (because of the ASF outbreaks). It could (also encourage China) to import more pork," said Caroline Bain, chief commodities economist of the London-based research firm Capital Economics.

"With China having the world's largest hog herd, the impact of African swine fever is significant from a global perspective," said Charles Clack, commodities analyst at the Amsterdam-based Rabobank.

China has 500 million pigs, accounting for about half of the global swine population, according to the United Nations Food and Agriculture Organization (FAO).

Source: China Daily

ThePigSite News Desk



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