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A pork marketer told Brownfield that US pork production growth is outpacing export demand, so producers should consider defensive pricing. He said African swine fever outbreaks are affecting over 80 percent of consumption in the top 10 pork-consuming countries, which keeps margins above average.
He also noted China could rebuild its pork infrastructure quickly.
Production growth outrunning export demand is bearish for lean hog prices, though ASF-driven global shortages keep margins supported.
brownfieldagnews.comNicole HeslipFeb 20, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
