Source: Jennifer Shike, Farm Journal’s Pork, 10 September 2020, photo credit: EY
Did news of Germany’s first confirmed case of African swine fever (ASF) throw gasoline on the fire? Len Steiner of Steiner Consulting Group thinks so.
According to the Daily Livestock Report, U.S. lean hog futures opened limit up on Thursday due to a combination of higher cash prices paid in the spot market on Wednesday, robust cutout values and news of ASF confirmed in Germany.
South Korea has already reported it will suspend imports of pork from Germany, according to Reuters. The U.S. and the European Union both have been encouraging regionalization that would allow trade to continue in areas not affected by a disease outbreak.
“Germany and other EU countries have been pushing hard for this because they have had ASF knocking at their door for quite some time,” Steiner says.