China Turns to Exporting Livestock Feed on Weak Domestic Demand
- Local soybean meal prices are hovering around three-year lows
- Heavy rains in South America could underpin soybean imports
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China is sending record quantities of soybean meal abroad, as a shrinking number of pigs and weak demand for pork force processors to export their surplus animal feed.
The unusual sales are yet another sign of how China’s stuttering economy is curbing domestic consumption and upending trade flows. The nation dominates global agricultural markets as an importer, with a lot of activity centered around feeding its enormous hog herd and putting enough pork on the table for hundreds of millions of households.