WASHINGTON – US pork producers should moderate their expectations about exports to China, because it increasing its own production and has plenty of pork supplies on hand, according to Bloomberg.
That was the message from Joel Haggard, vice president of the US Meat Export Federation Asia Pacific. Speaking during a conference call with journalists, Haggard said USMEF sees ample pork supplies unless an anomaly occurs in the market. However, in the long-term, US producers have opportunities in China as that country faces sustainability challenges for production, he added.
Haggard said raising hogs in China remains profitable even with price declines driven by China’s increasing production. Prices could strengthen on pork demand during the second half of 2012.
Countries such as Great Britain are betting on growing demand for pork in China. China and Great Britain recently inked a pork export deal worth £50 million ($79.1 million). The country also plans to offer breeding pigs China.