• China to purchase even more pork from US: May near 1 Billion pounds
    11 replies, posted
[url=http://www.reuters.com/article/2012/04/20/china-pork-idUSB9E7M902A20120420]Source[/url] [quote]CHICAGO AND BEIJING, April 20 (Reuters) - China will increase state purchases of frozen pork to elevate prices, amid mounting concerns that farmers' profit margins are being squeezed as the prices of live hogs fall, China's top economic planning agency said on Friday. The powerful National Development and Reform Commission (NDRC), said that average farm-gate prices of pork had fallen to 14.60 yuan ($2.30) per kilogram last week, a level below the 6:1 ratio of pork-to-grain prices it seeks to maintain as a minimum. "We will start state reserve purchases of frozen pork at an appropriate time to help stabilise live hog prices and to avoid massive losses in pig farming," NDRC said in a statement on its website ([url]www.ndrc.gov.cn[/url]). While other countries have oil and natural gas reserves, China holds reserves of pork -- both in live animals and frozen meat. These stockpiles are quite modest when compared with domestic consumption: China consumes half of the world's pork production. Chinese consumers, too, favor fresh cuts of meat over those that are frozen. But such reserves are a means for the government to help stabilize domestic prices during extreme price fluctuations -- a tool to try to curtail food inflation and steady its domestic industry. In 2009, Chinese policymakers launched a "hog price alert." The program is designed to stabilize pork prices and domestic food supplies: The stockpiles can be released whenever market prices are high, or fattened up when prices fall. According to China's Ministry of Commerce, retail prices of pork have fallen for 11 weeks in a row as the end of April 15. The announced pork-buying spree could mean a cooling for U.S. meat exports, said Elaine Johnson, a lead analyst who focuses on meat exports with with CattleHedging.com, based in Denver, Colorado. "If they're buying domestic, it would not seem to bode well for our exports," Johnson said. China has become a key market for the U.S. pork industry: Mainland China imported 667.7 millon pounds of U.S. pork in 2011, a jump over the 155.9 million pounds it bought in 2010, according to data from the U.S. Department of Agriculture. The U.S. pork industry hopes such demand will continue to remain strong in the coming years, amid the country's rapid urbanization and burgeoning middle class. The average Chinese consumer now eats nearly 10 percent more meat than five years ago. That dietary shift has helped spark a massive expansion of China's pork production industry, including growth in U.S. exports of breeding livestock, and led China to be the world's largest importer of soybean. ($1 = 6.3039 Chinese yuan) (Reporting by Zhou Xin, Nick Edwards, P.J. Huffstutter and Theopolis Waters.; Editing by Eric Meijer and Leslie Gevirtz)[/quote] Jesus christ, that's a [I]lot[/I] of pigs
They got a lot of people to feed so it wasn't that suprising.
China's buying 1 billion pounds of pork? what a bunch of [i]pigs[/i]
China is attempting to corner the market on pork bellies. Pretty soon we will have to start importing our bacon.
This could become a problem, more and more Chinese are switching from the old fashioned rice to meat. And there are a [I]lot[/I] of chinese, and we are already stretching our ability to match the global food demands.
[QUOTE=smeismastger;36265421]This could become a problem, more and more Chinese are switching from the old fashioned rice to meat. And there are a [I]lot[/I] of chinese, and we are already stretching our ability to match the global food demands.[/QUOTE] The US just needs to start exporting our shit ton of corn to China. We make money, and no more corn in literally all our food. Of course, obviously they want meat, not corn, but the concept is there.
[QUOTE=Loriborn;36265443]The US just needs to start exporting our shit ton of corn to China. We make money, and no more corn in literally all our food. Of course, obviously they want meat, not corn, but the concept is there.[/QUOTE] if china doesn't want corn, what makes you think that they will start buying america's corn?
China sure love those capitalist pigs.
[QUOTE=Loriborn;36265443]The US just needs to start exporting our shit ton of corn to China. We make money, and no more corn in literally all our food. Of course, obviously they want meat, not corn, but the concept is there.[/QUOTE] If we export all of our corn, then the price of meat in the USA will rise.
Wasn't there like awful videos of the Chinese just burying pigs alive?
[QUOTE=bull3tmagn3t;36266252]Wasn't there like awful videos of the Chinese just burying pigs alive?[/QUOTE]That was in South Korea.
[QUOTE=bull3tmagn3t;36266252]Wasn't there like awful videos of the Chinese just burying pigs alive?[/QUOTE] That was South Korea, and it was to combat the spread of a disease.
Sorry, you need to Log In to post a reply to this thread.