Economists say since COVID-19 crisis, cash prices of major products, such as hams and pork loins, are holding up well, however there is significant weakness in the pork belly market.
As producers continue to search for the best method to determine a fair market value, it is important to understand the differences among the various cutout reports.
For 2019, pork exports to China/Hong Kong were up 89% to 665,665 metric tons, valued at $1.45 billion (up 71%).
The Chinese market is tightening due to growing frozen inventories and a gradual recovery in domestic pork production.
While the demand for pork is obviously quite strong, pork demand and hog demand are not the same thing.