U.S. hog producers may have to “temper” expectations for pork shipments to China this year as the world’s biggest pork consumer ramps up production, said Joel Haggard of the U.S. Meat Export Federation.
“We see through the remainder of the year ample pork supplies, unless there’s some kind of anomaly that happens in the market,” Haggard, the federation’s Asia-Pacific vice president, said today on a conference call with reporters. U.S. producers will “have to temper expectations for continued growth in China. However, we are in the longer run looking at incredible opportunities as they face sustainability challenges for production.”
Chinese pork prices are falling as supplies are said to be “ramping up,” Haggard said. Even with price declines, it still remains profitable to raise hogs in China, he said. Chinese prices are expected to strengthen in the second half of the year because of demand, he said, without giving a specific forecast.
To contact the reporter on this story: Elizabeth Campbell in Chicago at email@example.com
To contact the editor responsible for this story: Steve Stroth at firstname.lastname@example.org.