Global pork production for 2021 is revised up nearly 4 percent to 105.1 million tons

16.07.2021 15:06 "Agro Perspectiva" (Kyiv) — According to the report of the USDA Livestock and Poultry: World Markets and Trade (July 2021), global pork production for 2021 is revised up nearly 4 percent from April to 105.1 million tons primarily on higher production in China which was raised 8 percent to 43.8 million tons. Since early 2021, China hog slaughter has been strong and carcass weights higher. Rebounding pork production at a time of weak seasonal demand has caused prices to drop rapidly, prompting liquidation of animals as Chinese producers have sought to protect margins. However, the reported culling of breeding animals, continued productivity challenges, and weaker producer margins are expected to slow China production growth later in the year.

Global pork exports for 2021 are revised up 2 percent to 11.8 million tons on higher estimates for all major exporters. China imports continue to underpin global trade and are raised 3 percent to 5.0 million tons. Meanwhile, Philippines imports are revised up 21 percent to 425,000 tons on lower tariffs and a continued ASF-induced supply deficit. Mexico imports are raised nearly 3 percent to 985,000 tons on high domestic prices, a stronger peso, and as an offset to strong exports.

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