Locked out of China, U.S. pork producers search for new buyers
CHICAGO - U.S. hog farmers lost hundreds of millions of dollars in export sales to China and Mexico after President Donald Trump launched his trade wars last year.
By comparison, total U.S. soybean exports dropped 13.7% by volume and 19.2% by value during the same period, while total sorghum exports dropped 72.8% by volume and 73.6% by value, according to the USDA. As China and Mexico reduced their purchases last year, a subsequent drop in U.S. pork prices helped encourage alternative buyers to ramp up purchases - particularly from smaller markets that had trade agreements with the United States, such as Colombia and South Korea.
U.S. pork sales to China and Hong Kong sank about 30% by volume and value to about 326,726 metric tons and $737 million in the 12 months ending in April, after Beijing increased its tariff to 62% from 12% last year. FILE PHOTO: Young pigs feed in a pen at a hog farm in Ryan, Iowa, U.S., May 18, 2019. REUTERS/Ben Brewer/File PhotoMeyer and other hog farmers like him have trekked across the globe on trade missions seeking new buyers for U.S. pork. He visited Colombia in 2015 and Peru in 2017, efforts that are now showing results, Meyer said.
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