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2016 pork outlook remains steady
A new report from Rabobank says global pork demand will likely remain weak for the first part of 2016 and prices should improve by the second half of this year.
Animal protein analyst Will Sawyer tells Brownfield 2015 had nearly historically high pork supply levels – is still weighing on the market.
“We think supply will grow, but at a much more normal rate.”
He says increased domestic demand and increased exports to China will improve demand for U.S. pork. “Markets like China that have really shrunken, for lack of a better word, by almost 20 percent in the last two years—that’s a market where prices have risen by 50 percent and they’re looking to diversify their imports.”
Sawyer says the U.S. rescinding Country of Origin Labeling (COOL) could also help export growth to Canada and Mexico.
AUDIO: Interview with Will Sawyer
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