This readjustment was based on recent weakness in shipments.
Industry analysts have been worried for several weeks now that the strengthening dollar, the global economic situation and the revival in of China’s domestic pork production could all have negative impacts on global pork trade. Forecasts
In its World Supply and Demand Estimates (WASDE) report, released late last week, USDA raised its total pork production forecasts for this and next year.
In 2008, production will be 10.68 billion kg, according to USDA estimates – and slight increase in comparison to the September forecast, which amounted to 10.66 billion kg. According to the report
, pork production in 2009 pork will amount to 10.51 billion kg, an increase from 10.43 billion kg forecast in September.
The Agriculture Department indicated that stronger than expected increases in pigs per litter have outpaced expected reductions in sow farrowings into early 2009. Related website:
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