Highlights:
– Phase 1 of US and China trade negotiations could open the door to more US pork sales to that market and higher pork prices.
– In the short term pork supplies remain plentiful, with slaughter last week over 2.7 million head, the second highest on record.
– Pork belly prices have surged higher as processors look to bolster inventories. Low prices in September also allowed retailers to book significant volumes for fall product features.
