China is buying more U.S. pork as it continues to battle African swine fever. USDA reported export sales of 23,000 mt to China earlier this month. Now Chinese officials report the country could see a jump in pork prices. In some cases, prices could jump more than 70%.
China's Agriculture Ministry predicts the number of pigs sent to slaughterhouse will fall further, but demand will rise during holidays in the second half of the year.
It's expected U.S. poultry exports to China will be a focus during trade talks. Key U.S. trade negotiators are reportedly heading to Beijing next week for more in-person discussions. "The Wall Street Journal" reports that will be followed by a Chinese delegation coming to Washington, D.C. the following week. White House National Economic Council Director Larry Kudlow says negotiators are making good progress.
Kudlow said, "We've made good progress across the board. We've never had anything of this scope and depth between the two countries, and I remain somewhat optimistic about it. As I've said, it's not a timetable issue."
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