China has seen its pork reserves hit concerningly low levels as the country’s Pig herds have been whipped out by the African Swine Fever. The country has opted to increase its imports of pork due to these issues and many on the world stage fear of massive pork shortages as a result of this new increase in demand.
China is not alone in these shortages however, The United States is also seeing a massive shortage in pork products. The Coronavirus has caused several meatpacking facilities to shut their doors and this is driving up the cost of meat, particularly that of pork.
These factors have led some to believe that pigs are going extinct, this is not the case. The result of these shortages will be higher meat prices and an increase in tensions between the United States and China in the ongoing trade war. More From Reuters:
The data show supplies in cold-storage facilities remain lower though meat processing has largely recovered after plants temporarily closed in April and May due to the spread of the contagious respiratory virus.
As of June 30, 464.373 million pounds of pork, including ribs, loins and hams, were in cold-storage facilities, down from 467.927 million the previous month and 619.454 million a year earlier, the USDA said in a monthly report.
The 3.5-million-pound decline was the smallest for that month since 1970 and followed a record-large drop in May, said Rich Nelson, chief strategist for commodity broker Allendale. Typically supplies fall by 30 million pounds in June, he said.