The world’s biggest pork consumer bought just over 10,000 tons of U.S. pork sometime between August 2-8. Reuters says that was the biggest purchase of American pork in almost two months.
The pork purchase is due for shipment this year as African Swine Fever continues to ravage the world’s biggest pork herd. The Chinese Commerce Ministry had said on August 5 that Chinese companies stopped buying U.S. farm commodities after yet another escalation in the trade war with America. Reuters says it’s not clear if the pork was bought before or after the August announcement. Analysts say the sales are seen as a sign that China needs meat from the United States to help offset the death loss of millions of pigs.
Steve Meyer is an economist with the commodity firm Kerns and Associates, who says, “It’s a new booking, which is positive.” China’s duty on American pork sits at a whopping 62 percent. President Trump backed off last week on part of his plan for 10 percent tariffs on all remaining Chinese imports starting on September 1. Late last week, China says it would counter the latest U.S. tariffs.