China: Livestock and Products Semi-annual
China produced and consumed more than half of the world’s pork supply in 2014. High internal corn prices are stressing profitability for many producers, leading post to reduce the 2015 hog forecast to 672 million head, down about 60 million head from 2014 levels. Post has increased the 2015 import forecast to 1,200,000 tons, 20% increase than USDA official forecast. The United States is expected to remain the second largest supplier to China behind the EU, but its market share is projected to decline. Meanwhile the pork consumption forecast has been adjusted to just above 2014 levels. Beef production and consumption forecasts have been increased to 6.6 and 7.078 million tons, respectively, essentially equal to 2014 levels. While the Chinese market remains closed to U.S. beef as of early 2015, imports from other suppliers will contribute to a forecast 20% increase to 500,000 tons.
