News – AU – Lean Hog ​​Futures Rise As China Confirms Swine Sick Outbreak

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CHICAGO, Feb. 6 / PRNewswire / – The Chicago Mercantile Exchange’s lean hog futures surged on Wednesday as China reported a new fatal swine disease outbreak, raising expectations that Chinese importers might increase US purchases

China’s Ministry of Farms confirmed that African swine fever in piglets is being transported illegally through Funing County in southwestern Yunnan Province

The case stems from growing concerns that China’s herd of pigs, the largest in the world, has been hit by a serious epidemic in recent months

CME April Lean Hog ​​Futures ended 2575 cents at 87925 cents a pound after hitting a contract life high of 90675 cents a pound last Thursday

Traders said they were not sure about the level of risk to the Chinese herd from African swine fever (ASF), which was first detected in China in August 2018

China’s Dalian soybean futures hit a record high on Wednesday, signaling to some traders that demand for animal feed is strong as the herd recovers

“They’re still fighting ASF there,” said Jim Gerlach, president of A / C Trading in Indiana. “You can’t fight it badly with record highs in beans” ”

The US The Department of Agriculture will publish a weekly export sales report on Thursday that will include an update on pork and beef demand

Strong export and domestic demand for US. Beef recently backed CME beef futures prices despite prices falling this week

Choice cuts of boxed beef fell $ 165 to $ 233 03 per quintal on Wednesday, while select cuts fell by $ 193 to $ 224 per quintal, according to the USDA

CME April live cattle finished 0025 cents at 119,400 cents a pound after reaching a contract life high of 126,700 cents on Feb. 16

April Feeder Cattle Futures rose 0825 cents to 141 300 cents a pound (Reporting by Tom Polansek of Chicago; Editing by Richard Pullin)

Sampling tissue over time combined with yield data can help you plan for your farm

Futures: at least 10 minutes late The information is provided “as is” and for informational purposes only, not for trading purposes or for advice. All delays and terms of use for exchanges can be found at https: // wwwBbarendiagrammcom / Solutions / Terms

Swine Disease Outbreak, China

News – AU – The Future of Lean Hog ​​Raises As China Confirms Swine Disease Outbreak

Source: https://www.agriculture.com/markets/newswire/livestock-lean-hog-futures-rise-as-china-confirms-pig-disease-outbreak