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Rabobank Pork Quarterly Q2 2020: COVID-19 Crisis Disrupts Global Pork Industry
Rabobank expects continued volatility in pork prices in 2020, as disruption in local markets is balanced with product shortfalls in Asia.
“The combined effect of near-term demand destruction and processing interruptions due to labor constraints has weakened producer returns and will slow production growth. Weaker GDP growth could further pressure pork demand, compounding an already challenging operating environment,” according to Christine McCracken, Senior Animal Protein Analyst.
China: Hog price strength reflects slow herd recovery and demand recovery
Hog prices remain elevated on African swine fever (ASF) herd losses and a gradual recovery in the production sector. Producer interest in rebuilding remains...
Retail Fresh Produce Demand Soars, but Landmines Remain During Coronavirus Pandemic
The COVID-19 situation has created a surge in fresh produce demand in retail grocery, but challenges around foodservice, logistics, macroeconomics, and labor availability pose ongoing threats. While fresh produce sales through foodservice channels have largely dried up, consumers continue to stock up on grocery items, including fresh produce.
Logistics have been strained, both globally and domestically, but the industry is adapting rapidly. The imminent global recession and rapid climb in the value of the US dollar will continue to threaten global demand, even after the virus is contained. Labor availability constraints and increases in...
NPPC Renews Call for Labor Solutions for Pork Production Continuity
NPPC Seeks Labor Solutions for Potential COVID-19 Impact on Pork Supply Chain
The fallout from an ongoing labor shortage facing the U.S. pork industry and other agriculture sectors could significantly worsen due to the impact of COVID-19, the National Pork Producers Council said in a letter to U.S. government officials. NPPC’s concerns regarding COVID-19 are labor specific. There is no evidence that pigs can contract the virus.
In a letter to the president and other administration officials, members of Congress, and state governors, NPPC called for expedited solutions addressing the need for more workers on hog farms and in pork plants. It also called on federal, state and local governments to work together to develop a response to COVID-19 that protects public health and...
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