China’s pig disease outbreaks cast pall over recovery
UNUSUALLY COLD: Up to 15 percent of the country’s hog herd might have been lost to disease over the winter, which would delay recovery to next year, a consultant said
Bloomberg
China’s farm ministry is touting a complete recovery in pig numbers from the ravages of African swine fever by the middle of this year. Fresh outbreaks of the virus and other lethal pig diseases could pose risks to that outlook.
A resurgence of African swine fever cases in colder northern provinces prompted farmers to slaughter more of their breeding sows before the Lunar New Year, said Lin Guofa, a senior analyst at consultancy Bric Agriculture Group.
China launches hog futures on Dalian exchange after African swine fever triggers wild swings in pork prices, inflation China accounts for almost half of the world’s consumption of pork. Photo: Reuters
China has kick-started the trading of hog futures as the world s biggest consumer of pork moves to provide a hedging tool for breeders who experienced bouts of wild price swings over the past two years caused by the African swine fever outbreak.
Three types of contracts debuted on the Dalian Commodity Exchange on Friday. Opening a contract requires about 40,000 yuan (US$6,186) based on the minimum margin requirement of 8 per cent set by the exchange operator. Prices slumped by almost their 16 per cent limit.