Construction of pig farms and rapid restocking will ease tight pork supply from the fourth quarter, an official at China’s Ministry of Agriculture and Rural Affairs said on Monday. Stocks of productive sows have increased by 28.6% compared with the level in September 2019, official news agency Xinhua cited Yang Zhenhai, director of the animal husbandry and veterinary bureau under the ministry, as saying at a media briefing.
During the lockdown, Canadians showed a renewed interest in Canadian agricultural products. This increased consumer enthusiasm for their agri-food sector provides an opportunity to reinvest in agriculture and food processing. Everywhere, thousands of jobs have been suspended or lost across many sectors. The gradual resumption of economic activity will help to some extent, but it will take time.
The USDA released its July WASDE report on Friday. Dan Basse is president of AgResource Company in Chicago. "The market has reacted somewhat negatively...the report didn't have any major surprises," said Basse. "Maybe a surprise in the report is that China soybean imports were left at 96 million metric tons, both in this crop year, which is just about over with, and the new crop year. USDA is not forecasting that China will take additional soybeans or oilseed crops in that time frame."