Trade beef poses a threat to US pork exports
US domestic demand buoys low-cost pork, but a row with China and slow progress in Nafta talks cloud prospects
Chicago — American consumers are snapping up plentiful low-cost pork, but US farmers are worried that trade spats with key export markets in China, Mexico and Canada could hurt a lucrative part of their pork business. The domestic demand outlook remains bright thanks to the strong US economy, upcoming spring grilling season and Easter holiday ham purchases. US goods in general are attractive to foreign buyers thanks to the recent drop in the dollar. However, trade disputes with China and slow progress in North American Free Trade Agreement (Nafta) talks have clouded prospects for US pork exports, which are crucial for the industry, as roughly one quarter of pork produced in the US is exported. The US Meat Export Federation (USMEF) said US pork exports were on a record pace, with volumes from January through November 2017 of 2.23-million tonnes, worth $5.9bn. That was up from 2.09-million tonnes, worth $5.4bn, for the same period in 2016, according to the industry group. "Without a d...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.