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National & World Ag News Headlines |
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China Posts Highest Pork Output in Three Years as Herd Recovers
USAgNet - 10/19/2021
China's third-quarter pork production surged to its highest in three years, official data showed on Monday, after producers built thousands of large breeding farms last year to rebuild a hog herd decimated by African swine fever.
Pork output for July-September was 12.02 million metric tons, up 43% compared with a year earlier, according to Reuters' calculations based on official data, and the highest since the third quarter of 2018, before China began feeling the fallout of the swine
fever epidemic.
China's pork output jumped 38% in the first three quarters of 2021 versus a year earlier to 39.17 million metric tons, the statistics bureau said.
The third quarter was, however, lower than the 13.46 million metric tons in the second quarter, defying expectations by some analysts.
"I thought it would be larger than the Q2 because there were a lot of liquidations in Q3," said Pan Chenjun, senior analyst at Rabobank.
The surge in pork production was led by the largest producers who invested billions of yuan in new farms during 2020 in a bid to grab market share in the aftermath of the swine fever epidemic, Reuters reports.
But prices have plunged 65% so far this year, prompting some farmers to sell their herds and exit, while others took the opportunity to get rid of less productive sows.
China's sow herd contracted by 0.5% in July compared with June, and by another 0.9% in August versus the month prior, according to data previously published by the Ministry of Agriculture and Rural Affairs.
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