Heard on the Street: President Xi is urging citizens to conserve food as prices rise. An extra helping of food shares, however, might improve investors’ financial health.
the impact will still be felt for a while
: Rabobank expects pork production in China to fall 17% this year. China has imported more pork, and other meat, to fill the supply gap. Total meat imports have almost doubled from a year earlier in the first seven months. As part of the phase one trade deal, exports from the U.S. have jumped: America is now the second-largest pork supplier to China. China’s WH Group , which owns Smithfield Foods, is an obvious beneficiary as it has. Yet as major meat exporters like Brazil and the U.S.
China will continue to import more meat, yet its deteriorating relationship with countries like the U.S. and Australia could drive the country to build more of its own supply, too. That could favor some big farm operators in the country. Lingering African swine fever means operating costs will likely stay high as farms need to invest more on biosecurity measures. That could drive industry consolidation as many small backyard farms find such costs unaffordable.
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