DTN Livestock Close: China Makes Large Pork Purchase

The livestock complex was pressured enough by simple midweek weakness, but hearing that China has reached a deal to buy $100 million worth of pork for the 2020 calendar year from European pork producers put U.S. hog producers in a bind.

GENERAL COMMENTS:

Remember that uncle we talked about a while ago? The man who couldn’t function when things went right, so he fell off the wagon and started drinking again? Well, the wagon may have gotten bigger and more of the market jumped on. And to boot, there’s nothing like hearing that China has reached a deal to buy $100 million worth of pork for the 2020 calendar year to sour your day.

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