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China cancels U.S. pork import orders as trade war drags on

Barnacle said:
I don't understand what you mean ...

A Chinese company operating in the US and supplying the Chinese market has just been told that they can't export to their home country anymore.

Wouldn't that "hurt" one of their own companies?!?
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It might, in the short term.

Mind you, if the action resulted in the controllers of some holding company being able to pick up assets at fire sale prices it's always possible that the owners of the holding company that owns the shell corporation that owns the investment fund that holds the proxies that control the whole thing just might potentially know what they are doing (especially if those controllers were used to "fighting the long war" and no one else even knew that "the long war" was even in progress).

While I'm not saying that this is the case, have you considered "Who actually controls Company ABC?" in a situation where 51 people are EACH the legal owners of 1% of the voting stock in Company ABC and one person owns 49% of the voting stock BUT where all 51 of those people have entered into an irrevocable agreement that gives "Mr. X" the right to vote their shares by proxy.
 
Risky Thicket said:
What is going to keep American pork farmers and their suppiers solvent until the market comes back? Is Trump going to bail them out with taxpayer money?
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Not a chance!!!

Mr. Trump will pay those "price stabilization grants" and "farm preservation grants" with GOVERNMENT money. There isn't a chance in the world that someone from the US government will actually show up at some taxpayer's house and take the taxpayer's money away from them to pay for those essential components of the American economy.
 
Once again we see the hypocrisy of the Democratic Party and many Democrats in ranting in exactly opposite directions.

On the one hand, they rant that meat consumption must be dramatically reduced as part of saving the earth from certain destruction within 12 years for climate change, while at the same time ranting there might be a reduction is livestock animal consumption that must not be allowed to happen.

Democrats - pick ONE: Meat consumption must be reduced. Meat consumption must not be reduced. Which is it?

Pick almost any issue and you find the Democratic Party, and therefore most Democrats, ranting, sneering and sobbing in opposite directions - often at exactly the same time.
 
TU Curmudgeon said:
From The Globe and Mail

China cancels U.S. pork import orders as trade war drags on
​

The same week U.S. President Donald Trump announced sweeping increases on tariffs against Chinese goods, Chinese buyers dropped orders for 3,247 metric tonnes of U.S. pork – the biggest cancellation in more than a year, according to U.S. Department of Agriculture data released on Thursday.

The cancellation came during the week ended May 9, a blow to the US$6.5-billion export market for American pork, vital to the burgeoning U.S. meat industry.

Prior to the trade war, China and Hong Kong combined were the second-largest export market for U.S. pork.

For months, the U.S. farm sector – which has been among the hardest hit by the trade war between the world’s two largest economies – has been banking on China increasing its U.S. pork purchases because of African swine fever (ASF).

COMMENT:-

Aren't you glad that you sold pork bellies short and aren't you glad that you don't need the votes from anyone involved in any sector of the economy that relies on the sale of pork for its health (like golf courses and/or luxury hotels)?

On the other hand, either the price that you pay for pork chops is going to drop because the hog farmers are forced to sell below the cost of production or the US government is going to start handing out bushel baskets of "government money" to the hog farmers and processors to prevent them going broke. (Wanna bet which it is going to be?)

PS - Published on 16 MAY 19 and updated one hour ago.
​
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COMMENT: One of the symptoms in pigs infected with ASF is depression. Now, while I commend the Chinese for the technology for diagnosing depression in pigs, I think American“big pharma “ can offset the losses from Opiate lawsuits by beating China to the punch. Two words, “ pig Zoloft”. Call your brokers NOW!!
 
BTW The epidemic in China is projected to cause a culling of more than one third of Chinas total pig population. This type of crisis may drive pork prices up world wide. China isn’t the only country that eats pork. Of course, China has the best chance politically to outlast the US, as China’s prez doesn’t have to worry about elections. They also are much tougher than spoiled Americans that quit at the first sign of adversity. Sadly.
 
TU Curmudgeon said:
Not a chance!!!

Mr. Trump will pay those "price stabilization grants" and "farm preservation grants" with GOVERNMENT money. There isn't a chance in the world that someone from the US government will actually show up at some taxpayer's house and take the taxpayer's money away from them to pay for those essential components of the American economy.
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I fully expect that the 1% will pay all those hog farmers, truckers, processors, shippers and the rest whatever they take on the chin for the next year, you know, 'cause they want to make America great again.
 
joko104 said:
Once again we see the hypocrisy of the Democratic Party and many Democrats in ranting in exactly opposite directions.

On the one hand, they rant that meat consumption must be dramatically reduced as part of saving the earth from certain destruction within 12 years for climate change, while at the same time ranting there might be a reduction is livestock animal consumption that must not be allowed to happen.

Democrats - pick ONE: Meat consumption must be reduced. Meat consumption must not be reduced. Which is it?

Pick almost any issue and you find the Democratic Party, and therefore most Democrats, ranting, sneering and sobbing in opposite directions - often at exactly the same time.
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Good gawd.
Do you get paid for posting this stuff?
 
Barnacle said:
Yeah ... I was wondering about that, too.

Did China just now "sabotage" its own company and main pork supplier?!?

"Smithfield Foods, the world’s largest pork producer, was acquired by a Chinese firm in 2013 for nearly $5 billion -- more than the company’s market value. The surprising purchase caused some lawmakers to wonder if there might be a hidden player. As part of the series Food for 9 Billion, Nathan Halverson of the Center for Investigative Reporting examines how the Chinese government is involved. ...
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Risk: if I'm China, trying to win a trade war against America, a place that I have significant holdings in, I do exactly what they have done - cancel imports, and use my local producers to gut the rest of the industry by charging well below cost.

Sometimes economics is used to make money...other times it's use to wage war. You guys are going to have to get used to the idea that China's leadership is a hell of a lot smarter than yours.

But hey, cheap BLT's... :roll:
 
ocean515 said:
Hmmm.

I don't know about that. It seems to be part of the President's plan to stop China from screwing the United States and it's citizens.
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..and an added side benefit that some Chinese will go hungry...
 
smallvoice said:
..and an added side benefit that some Chinese will go hungry...
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:lamo Do you actually believe that? No one else will sell them pork?

Redistribution of market share is capitalisms version of redistribution of wealth. I gotta quit my job in the automotive industry and take up raising pigs instead... :lol:
 
OlNate said:
Risk: if I'm China, trying to win a trade war against America, a place that I have significant holdings in, I do exactly what they have done - cancel imports, and use my local producers to gut the rest of the industry by charging well below cost.

Sometimes economics is used to make money...other times it's use to wage war. You guys are going to have to get used to the idea that China's leadership is a hell of a lot smarter than yours.

But hey, cheap BLT's... :roll:
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If we had a penny for every short sighted strategy, we'd be laughing at how much richer than Bezos we are.
 
Amelia said:
Killing markets for American farm goods is part of Trump's plan to stop China from screwing our citizens?


That IS what he keeps telling us. But you'll understand that farmers are starting to lose patience with Trump's plans ....
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No they lost patience long ago...
 
ocean515 said:
Why?

Piggy's aren't just grown overnight. If China is cut off, those walking pork chops and that yummy bacon will have to go somewhere. That makes it a buyers market, not a sellers market.
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Not when farms are going bankrupt left and right...
 
OlNate said:
:lamo Do you actually believe that? No one else will sell them pork?

Redistribution of market share is capitalisms version of redistribution of wealth. I gotta quit my job in the automotive industry and take up raising pigs instead... :lol:
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If someone else will sell them pork, why aren't they buying it there now? With that definition, you Canadians don't know much about Capitalism.
 
GDViking said:
No they lost patience long ago...
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There are diehards out there.

People who keep trying to keep a brave Trump-supporting face. They're wincing and saying, "I know he means well, but it's really pinching."
 
joko104 said:
Once again we see the hypocrisy of the Democratic Party and many Democrats in ranting in exactly opposite directions.

On the one hand, they rant that meat consumption must be dramatically reduced as part of saving the earth from certain destruction within 12 years for climate change, while at the same time ranting there might be a reduction is livestock animal consumption that must not be allowed to happen.

Democrats - pick ONE: Meat consumption must be reduced. Meat consumption must not be reduced. Which is it?

Pick almost any issue and you find the Democratic Party, and therefore most Democrats, ranting, sneering and sobbing in opposite directions - often at exactly the same time.
Click to expand...



This is like a criminal shooting out my tires so I can't drive to work, and me getting upset about that, and you coming by and saying, "But I thought you said auto emissions were too high -- what a hypocrite you are for being upset that a criminal made it hard for you to get to work."
 
smallvoice said:
If someone else will sell them pork, why aren't they buying it there now? With that definition, you Canadians don't know much about Capitalism.
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Both New Zealand and Australia have been waiting to tap into the Chinese pork market.

They are filling the vacuum in the same.e way Brazil is filling the soybean market.

Trump says trade wars are easy to win and for once he was right, China is kicking our ass a d they're making it look damn easy...
 
GDViking said:
Both New Zealand and Australia have been waiting to tap into the Chinese pork market.

They are filling the vacuum in the same.e way Brazil is filling the soybean market.

Trump says trade wars are easy to win and for once he was right, China is kicking our ass a d they're making it look damn easy...
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So THAT's why their economy is doing the circular down the drain motion!
 
smallvoice said:
So THAT's why their economy is doing the circular down the drain motion!
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Well, that's why Trump will again take billions in tax money to paper over the mess he's making of the lives of many who voted for him.

Trump - Endless Infancy!
 
smallvoice said:
So THAT's why their economy is doing the circular down the drain motion!
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Yeah sure, maybe they should call in all the money we have borrowed from them if their economy is in such trouble...
 
smallvoice said:
So THAT's why their economy is doing the circular down the drain motion!
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Right. Over 6% growth is circling the drain.


Sometimes Trumpsters actually manage to be cute. :)
 
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