Where is all that pork going?
“The answer is almost everywhere as the world has discovered one of the last food bargains on the globe,” he said. “About one-half of the higher exports this year compared to the same period last year are headed to China and Hong Kong–most likely transshipped to China. “Exports to most other major buyers are up as well, with Japan up 14 percent, Russia up 58 percent, and Canada up 27 percent. It is becoming clear that the world will continue to buy up the huge U.S. production until pork prices move sharply higher. Maybe U.S. consumers can’t eat all of the U.S.-produced pork at profitable prices to producers, but the world can.” And how much pork is there going to be? First, Hurt said, consider the June flooding and the subsequent movement of corn prices from the $6 level to $7. The bleakness of the outlook surely has convinced more producers to slaughter sows. The latest Hogs and Pigs report from the USDA shows the breeding herd down about 1 percent with farrowing intentions to drop b
