A look at US and EU pork exports and Chinese pork demand -Ag Trade

U.S. Pork Exports In its monthly Livestock, Dairy, and Poultry Outlook report last week, USDA’s Economic Research Service (ERS) stated that, “Pork exports in July were 508 million pounds, 8.5 percent lower than those of a year ago. “Canada was the only other major market to which shipments were lower in July.” The ERS report noted that, “Exports were 1.8 percent below a year ago through the end of July, and down 46 percent to China.” Last week’s update added that, “Second-half pork exports are reduced to reflect expectations of continued lower shipments to China\Hong Kong.” “Total exports for 2021 are expected to be 7.334 billion pounds, almost 1 percent greater than exports in 2020,” the Outlook report said. The USDA’s World Agricultural Supply and Demand Estimates report earlier this month stated that, “The pork export forecast for 2021 is reduced on recent trade data and expected slower demand growth from Asia; no change is made to the 2022 forecast.” More narrowly, Bloomberg ...