Pork imports by China are expected to surge as the country's hog herd has been decimated by the deadly African swine fever. China has bought some US pork, but the total volume so far has been disappointing.
The cash pork carcass cutout value was 65 US cents higher on Friday at US$83.27 per cwt, but that was down US$2.00 from a week ago, according to US Department of Agriculture data. CME June lean hogs closed at 86.425 US cents per pound while actively traded July hogs ended at 87.950 US cents, both down the 3-cent limit.Live cattle futures were mostly lower on Friday as traders squared positions ahead of a monthly USDA cattle-on-feed report that was released after the close.
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