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

Rexedgar said:
China owns Smithfield Ham!

Smithfield Foods, Inc., is a meat-processing company based in Smithfield, Virginia, in the United States, and a wholly owned subsidiary of WH Group of China. Founded in 1936 as the Smithfield Packing Company by Joseph W. Luter and his son, the company is the largest pig and pork producer in the world.-from Wikipedia
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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. ...
 
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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China has a lot of tools at their disposal but they decided to pick one of the stupidest ones to stand on. Pork is one of the main foods in China and they currently are dealing with an epidemic of the African swine disease that has made it to China. It has no cure and is 100% fatal.

China's African swine fever epidemic could raise global meat prices - CNN

Our pork markets will be doing great.
 
Fishking said:
China has a lot of tools at their disposal but they decided to pick one of the stupidest ones to stand on. Pork is one of the main foods in China and they currently are dealing with an epidemic of the African swine disease that has made it to China. It has no cure and is 100% fatal.

China's African swine fever epidemic could raise global meat prices - CNN

Our pork markets will be doing great.
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You should go tell all the Farmers exporting Pork , how great things will be...Do it
 
Saladin4 said:
You should go tell all the Farmers exporting Pork , how great things will be...Do it
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For sure...just look at where all this swine disease has spread, and it's 100% fatal. The U.S. is clean, and that means we're one of the only shows in town.
 
Rexedgar said:
China owns Smithfield Ham!

Smithfield Foods, Inc., is a meat-processing company based in Smithfield, Virginia, in the United States, and a wholly owned subsidiary of WH Group of China. Founded in 1936 as the Smithfield Packing Company by Joseph W. Luter and his son, the company is the largest pig and pork producer in the world.-from Wikipedia
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It's funny how the OP's article doesn't mention this important fact.
 
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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Nope, they are not an import so no tariffs, and they can suffer any loses better than we.
 
Casper said:
Nope, they are not an import so no tariffs, and they can suffer any loses better than we.
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Doesn't Smithfield ship the pig carcasses there to be broken down and packed and shipped back to the united states?
 
Fishking said:
For sure...just look at where all this swine disease has spread, and it's 100% fatal. The U.S. is clean, and that means we're one of the only shows in town.
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Only show?...Too Funny, already Australia is poised to be China's chief importer of Pork..........Winning
 
Saladin4 said:
Only show?...Too Funny, already Australia is poised to be China's chief importer of Pork..........Winning
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Hmmmm...I know reading can be hard, but go back and read what you quoted.
 
Casper said:
Nope, they are not an import so no tariffs, and they can suffer any loses better than we.
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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?!?
 
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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As I said they can take the hit, but it does not only hit them. Trade wars are messy and this is one thing many, including myself, warned could happen with trump in the Whitehouse. He now has us at odds with the EU, GB, Canada, Mexico, and China, all our major trade partners. Anyone that thinks us going work out well for the US does not actually understand the situation.
 
Fishking said:
China has a lot of tools at their disposal but they decided to pick one of the stupidest ones to stand on. Pork is one of the main foods in China and they currently are dealing with an epidemic of the African swine disease that has made it to China. It has no cure and is 100% fatal.

China's African swine fever epidemic could raise global meat prices - CNN

Our pork markets will be doing great.
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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?
 
phattonez said:
Hear hear! I get cheaper pork and less plastic crap produced overseas. This is what you call a win-win.
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You do realize that there are other countries that can produce plastic crap, right? So once Trump is done with the Chinese, he will target Vietnam, India, Indonesia, etc.
 
Casper said:
In the short term, in the long term you, we, will pay more for pork products.
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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.
 
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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Killing?

So I get to enjoy tasty bacon and other pork products because China buys pigs raised here?

Who knew?
 
sangha said:
And bacon tastes better when it's seasoned with pig farmer's tears
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AWESOME!! That will make the bacon saltier!

:)


Seriously though, this is not going to help the pig farmers and we're likely to see a similar scenario as we did for soy farmers.
 
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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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For a period of time, until the market adjusts to the lower demand, by producing less. So in a few weeks buy alot of pork and store it for the most saving
 
Rexedgar said:
China owns Smithfield Ham!

Smithfield Foods, Inc., is a meat-processing company based in Smithfield, Virginia, in the United States, and a wholly owned subsidiary of WH Group of China. Founded in 1936 as the Smithfield Packing Company by Joseph W. Luter and his son, the company is the largest pig and pork producer in the world.-from Wikipedia
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Interesting.

Let's see if I can follow this one through:


  1. Demand for pork drops;
  2. Supply of pork remains constant;
  3. Achievable sale price for pork drops;
  4. Pork processors pay less for pork;
  5. Domestic demand for port remains constant;
  6. Pork processors keep prices constant;
  7. Pork processors profits increase (Pork processors are happy);
  8. US government uses government money to pay out "price stabilization funds" to farmers;
  9. Farmer's incomes stay the same (Farmers are happy);
  10. Farmers vote for the politicians handing out the money (Politicians are happy); and
  11. Retail prices remain the same (Consumers are happy).


What's not to like when everyone is happy and it hasn't cost anyone a dime?
 
Don't worry, I'm sure Trump will craft some multibillion dollar bailout of the pork industry as well.
 
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