Pork production in the US to grow by 3% over the next 6 months
The US hog inventory has increased to 69,156,000, up by 2 million compared to the last year and that means a lot of meat to be delivered on the market in the next few months.
In fact, about 75,000 more hogs a week will enter the slaughterhouses and processing units in the next six months, according to a market report from Jim Long, President-CEO, Genesus Inc.
Luckily, there is some good news for the industry as the US has finally reached an agreement on trade issues with Mexico and pork demand from China is expected to increase in the near future as the Asian country is fighting against ASF outbreaks.
"In our opinion, it will be hard for China to stop ASF. They will try but we have been in Russia for ten years, we have seen ASF there. We know Russia has tried to stop it and have made an excellent effort but so far have not been successful. Russia has land and strict biosecurity systems and protocols. The sheer scale of Chinas industry and hog density makes the effort even more daunting.
Finally, with the announcement on Sunday of the Trade agreement between the USA – Mexico – Canada (USMCA) there should be relief in the future for U.S. producers at some point from Mexican tariffs that have hurt U.S. hog prices", observes Mr Long.
Nevertheless, the US pig herd expansion seems to have slowed down in the last quarter, the country's breeding herd expansion accounting for only 10,000 head.
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