Hopes for a China COVID policy change return hogs back to last week’s trade. December 1, 2022
Weekly export sales of US pork were disappointing at 20,051 tonnes. This was -52% from last year. Year to date sales are -16%. USDA is still too high at -9% from last year. Sales to Chinese buyers quite disappointing at 273 tonnes. This was the lowest weekly sale since August. Last week's sale, reported today, should have been one of those strong buying weeks.
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