Chinese Meat Imports Hit Monthly Record on Domestic Supply Fears
by Bloomberg Apr 13, 2021
China imported a record amount of meat in March on supply concerns as hog herds in the world’s biggest pork consumer struggled to recover from African swine fever.
Total imports, including offal, topped 1 million tons, up 44% from February, after new strains of the deadly virus hurt hog numbers, particularly in the north. Shipments have been high for months, with ports unloading a record 10 million tons in 2020, 60% more than a year earlier, to augment local supplies.
China’s aggressive purchases have encouraged investors to boost bullish bets to the most since November 2017 on Chicago hog futures.
The record arrivals in March added to selling by hog farmers spooked by fresh outbreaks of African swine fever and bans on the transport of live hogs. That sent domestic pork prices spiraling down to the lowest since August 2019. The high imports in March were also driven by record domestic beef prices.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
Similar Stories
CPA applauds Biden Administration action to block Nippon Steel’s purchase of U.S. Steel
The Coalition for a Prosperous America (CPA) commends President Biden’s decisive action to block Nippon Steel’s $14.9 billion bid to acquire U.S. Steel. This decision reflects a necessary commitment to…
View Article
Avocados will continue strong surge in 2025 and beyond
View Article
Forecast 2025: A welcome economic rebound
View ArticleU.S. International Investment Position, 3rd Quarter 2024
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$23.60 trillion at the end of the third quarter of 2024, according to…
View ArticlePhiladelphia CBP Officers intercept $1.4M in counterfeit PA vehicle inspection decals from Israel
U.S. Customs and Border Protection officers recently seized 22,000 counterfeit Pennsylvania vehicle inspection stickers that were shipped from Israel to an address in Philadelphia. The fake inspection stickers were assessed…
View ArticleCBP Senior Official performing duties of Commissioner delivers trade advisory committee opening remarks
The Commercial Customs Operations Advisory Committee (COAC) held the fourth public meeting of its’17th Term Dec. 11 in Washington, DC. Troy A. Miller, U.S. Customs and Border Protection (CBP) Senior…
View ArticleGet the most up-to-date trending news!
SubscribeIndustry updates and weekly newsletter direct to your inbox!
Follow us on social media:
