In December of 2019, we saw the records get set for both volume and value of pork exports. In January the pace continued. The U.S. Meat Export Federation (USMEF) just released the numbers, and they are feeling very good about how 2020 is starting off.
The USMEF Senior Vice President for the Asia Pacific is Joel Haggard. He says that we saw this record-setting export pace to China despite the high tariffs of the trade war. This is mainly because of the effects of African Swine Fever.
Haggard says with the first phase of a Chinese trade deal in place, we can only hope the exports to that country will continue to grow. We have already seen some tariff relief to some importers of U.S. pork.
The February numbers are going to be looked at very carefully and cautiously when they are released. Fears and export uncertainty over Coronavirus have had some very adverse effects on the markets. However, it will be a while before we know what those are. The other big question is how long will fear keep driving the markets?
