USDA predicts China's pork production will drop 3.4% in 2024

Published 2024년 4월 22일

Tridge summary

The 'Livestock and Poultry: World Markets and Trade' report by the U.S. Department of Agriculture projects a global decline in pork production by 1% in 2024, largely due to a 3% reduction in China's output, despite increases in the United States, the European Union, and Brazil. However, global pork exports are expected to grow by 4%, driven by the EU, Brazil, and Canada. The report also details a rise in EU and Brazil's pork production and exports, a mixed scenario for the U.S. with higher production but lower exports, and an increase in Mexico's pork imports, making it the second-largest importer. Additionally, Russia's pork production is forecasted to increase by 2.5%, reaching 4.1 million tons, with its imports also expected to rise by 5.3% to 120,000 tons in 2024.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the latest report "Livestock and Poultry: World Markets and Trade" released by the U.S. Department of Agriculture on April 11, the U.S. Department of Agriculture predicts that world pork production will decline, due to the decline in pork production in China, which offsets the expected increase in the United States, the European Union and Brazil. Global Pork Production World pork production is expected to fall by 1% in 2024 due to the expected decline in pork production in China. China's pork production is expected to fall by 3% from 2023 as the continued low pig prices in 2023 have led to the start of the contraction of China's pig production capacity. EU pork production is expected to increase by 2% in 2024. Last year's high piglet prices and pork prices stimulated producers to start increasing sow stocks at the end of 2023, and pig stocks are expected to increase by 2% in 2024. In addition, lower feed prices are expected to improve profitability of the EU pig ...
Source: Foodmate

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