중국 오일 및 지방 인사이트

The threat and reality of tariffs on pork and live hogs have hit lean pork futures. China has imposed 25% tariffs on pork from the United States and Canada. Likewise, the United States, Canada, and Mexico have threatened each other with 25% tariffs.

(I) Pork In terms of production, the US pork production in January was 1.131 million tons, up 1.2% year-on-year. In terms of trade, in January, US pork exports fell year-on-year, while Brazilian pork exports increased year-on-year. From the US, pork exports in January were 262,000 tons, down 1.9% year-on-year. Among them, exports to China were 20,000 tons, up 61.1% year-on-year. From Brazil, pork exports in January were 99,000 tons, up 6.4% year-on-year. Among them, exports to China were 20,000 tons, down 14.0% year-on-year. In terms of price, the global pork price index fell 0.4% month-on-month and 5.9% year-on-year (lower than the same period last year for 11 consecutive months). The US pork price rose 7.3% month-on-month, still at a high level since the fourth quarter of 2023 (up 5.7% year-on-year). Converted at the exchange rate of the same period, the wholesale price of cut pork was 15.66 yuan/kg; the EU pork price has fallen for 8 consecutive months, down 12.9% ...

The reactions of major trading partners Mexico and China to US tariffs are particularly crucial for global pork trade.