Source: Tyne Morgan, Farm Journal’s Pork, 30 August 2021, photo credit: IMA ASIA
China’s pork production is expected to decline 14% in 2022, while pork imports are expected to climb 5.1 metric tons (MT) as consumer demand for pork could exceed domestic production. That’s according to a USDA attaché report from China released late last week. However, the anticipated decline in production doesn’t translate into a reduction in feed demand, according to StoneX Group.
The USDA attaché forecasts overall hog and pork production to decline again next year, with hog production expected to dropping 5% in 2022. With fewer hogs coming to market, China says it expects pork production to decline.
As the country continues to try to recover from the impacts of African swine fever (ASF), Arlan Suderman of StoneX Group says China’s reduction in food waste as a source of feed means soybean meal demand could continue to stay strong, despite the reduction in overall hog herd numbers.