Pork prices in the US are expected to increase due to increased demand

According to the chart of pork price index on CME this week, pork futures prices are trending up. High beef prices have boosted demand for pork alternatives, including ham ahead of the Thanksgiving holiday last week in November. US pork exports increase slightly According to the latest USDA report, the US pork trade surplus in 2021 is forecast to reach 25,000 tons, up 7% compared to the forecast made last week, but down 16% compared to the average of the past 4 weeks. The trade surplus increased mainly to Mexico (16,900 tons, down 600 tons compared to last week's forecast), Japan (3,800 tons, down 200 tons), Canada (1,600 tons, down 600 tons), Colombia (1,100 tons, down 100 tons). tons) and Australia (700 tons, down 100 tons), whereas trade surplus decreased in Korea (900 tons). It is forecasted that in 2022, there will be a trade surplus of 5,100 tons of pork, mainly to Korea (4,200 tons) and Australia (800 tons). Meat exports in the week reached 34,700 tons, up 9% from the ...