In this file:

 

·         Lean hog futures drop by nearly 4% as China reportedly reaches a deal to buy pork from Denmark

Lean hog futures dropped on Wednesday, pressured as Reuters reported that China's state-owned agriculture conglomerate COFCO has reached a deal to buy $100 million of pork next year from European pork producer Danish Crown…

 

·         China's COFCO to buy $100 mln pork from Danish Crown by 2020

… COFCO said in a statement the deal would help it to diversify the origins of its imports and product variety, and make purchases more sustainable…

 

 

Lean hog futures drop by nearly 4% as China reportedly reaches a deal to buy pork from Denmark

 

By Myra P. Saefong,

Nov 6, 2019

 

Lean hog futures dropped on Wednesday, pressured as Reuters reported that China's state-owned agriculture conglomerate COFCO has reached a deal to buy $100 million of pork next year from European pork producer Danish Crown.

 

China has faced a shortage of pork as African swine fever has decimated its pig herds.

 

China made the purchase with the "expressed rationale of diversifying their pork suppliers around the globe," according to report Wednesday from Zaner Group LLC, The report said the move is a "blow to American suppliers."

 

December lean hogs...

 

more, including links 

https://www.marketwatch.com/story/lean-hog-futures-drop-by-nearly-4-as-china-reportedly-reaches-a-deal-to-buy-pork-from-denmark-2019-11-06

 

 

China's COFCO to buy $100 mln pork from Danish Crown by 2020

 

Reporting by Hallie Gu and Dominique Patton; writing by Chen Aizhu in Singapore, editing by Louise Heavens and Jane Merriman, Reuters

November 6, 2019

 

BEIJING, Nov 6 (Reuters) - China’s state-owned agriculture conglomerate COFCO said on Wednesday it had agreed to buy $100 million of pork from European pork producer Danish Crown in 2020 to help ease a domestic pork shortage following a widespread pig disease.

 

The two companies signed a preliminary purchase agreement on the sidelines of the China International Import Expo in Shanghai.

 

COFCO said in a statement the deal would help it to diversify the origins of its imports and product variety, and make purchases more sustainable.

 

Lars Albertsen, sales director at Danish Crown, said no volumes had been agreed yet, but he said the sale was “one of the biggest deals we’ve done out here in a long, long time”.

 

He said it could be expanded, given the huge needs from China.

 

“There’s a shortage of pork so the likelihood is that it will become more,” he told Reuters.

 

Europe’s top pork exporter, Danish Crown has done several deals with COFCO this year, turning it into a preferred supplier, said Albertsen.

 

China’s huge hog herd has shrunk by 40% since African swine fever reached the country in August 2018, killing millions of pigs and pushing pork prices to record levels.

 

The pork shortfall in the world’s top producer is having global repercussions, driving up demand for imports of all meat and pushing Danish pork prices to their highest since 1997…

 

more

https://in.reuters.com/article/china-cofco-denmark-pork/update-1-chinas-cofco-to-buy-100-mln-pork-from-danish-crown-by-2020-idINL3N27M3LB