An upswing in global pork prices as ASF decimates the Chinese herd

An upswing in global pork prices as ASF decimates the Chinese herd
  • The recent trend international pork market shows the market has responded swiftly to the African Swine Fever (ASF) induced shortages with major exporters raising their exports to China. In the European Union (EU), monthly pork exports to China were reported up 63% year on year (y/y) and accounted for 43% of the overall 218,900 tons for the region during March 2019. This saw the EU reference price has increasing by 6% month-on-month (m/m) to £154.83 / kg during the first week on June 2019, which is up by 31% from the early March 2019 levels and was 23% higher y/y.
  • Despite the US-China trade skirmishes with US pork slapped with an additional 50% tariff, US pork exports to China (Mainland) rose by 111% during April 2019 relative to the January levels and were 8% higher y/y at 22,472 tons. Similarly, domestic US carcass prices have risen by 39% and 11% relative to the early March 2019 level and last year respectively at US$82.48/ cwt.
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