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African Swine Fever Confirmed on German Pig Farm, While China s Record Pork Imports Cool • Farm Policy News
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China s Pork Imports Set to Plunge 50% as Local Prices Tumble
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China s Pork Imports Set to Plunge 50% as Local Prices Tumble
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Increasing pork output, weak demand to pressure prices - analysts High margin requirements to reduce contract’s initial hedging use - consultant (Updates with closing prices, comment, charts)
SHANGHAI/BEIJING, Jan 8 (Reuters) - China’s live hog futures tumbled in their debut on the Dalian Commodity Exchange, with analysts attributing the sell-off to the contract’s high listing price and expectations of increasing supplies.
The front-month September contract closed 12.6% lower at 28,290 yuan ($4,376.95) per tonne on Friday versus its 30,680 yuan listing price.
Trading volume stood at 91,056 lots, versus 1.4 million for Dalian’s most active contract for soymeal, a key pig feed ingredient.