Rising Pork Demand Drives U.S. Hog Prices to Highest Since 2014
- Pork price moves by Philippines may spark demand for U.S. meat
- U.S. industry sees Philippines move as boosting foreign access
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Lean hogs, one of this year’s best-performing commodities, are fetching the highest U.S. prices since 2014 as pork-pricing changes in the Philippines lift demand prospects.
The Philippines ended a two-month ceiling on pork prices and the U.S. industry is already anticipating reduced tariff rates on imports of the meat. The measures come as the Southeast Asian nation battles an outbreak of the deadly African swine fever virus, which has also had a resurgence in top pork-producing China.