Investor Alert

New York Markets Close in:

Market Pulse Archives

Nov. 6, 2019, 12:41 p.m. EST

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

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Myra P. Saefong

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 fell 2.7 cents, or 3.9%, to 64.63 cents a pound.

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.