Chinese Trade Outlook Continues To Improve
China takes a step towards easing trade tensions by exempting U.S. pork & soybeans from further tariffs. While the details are still unclear, the change spells opportunity for pork producers.
China produces fifty percent of the world’s pork, but the country’s swineherd has diminished by nearly half since the introduction of African Swine Fever. This leads to high pork prices for China with reports saying the cost is up forty percent in the last thirty days. But they say there’s a risk of losing that opportunity to the nation’s biggest competitors.
At the end of the day, NPPC leaders say they would like to help with the gaping hole in China’s pork economy. NPPC leaders say America is in a unique position to help both countries and could even diffuse trade disputes.
RFD-TV’s Corryn LaRue reports.