The spread of the coronavirus in China and other areas of the globe is a concern for United States pork producers. Minnesota Pork Producers Association President Greg Boerboom says the ripple effect in the economy could be worse for China and other countries than even the African Swine Fever.
He says it could also slow demand for pork at a time when China has been purchasing U.S. pork product. They’re trying to stay optimistic China will need U.S. pork to replenish their pork reserves after African Swine Fever devastated their herd.
While the coronavirus cases and deaths are far below those associated with the normal flu, Boerboom says panic is driving the market.
Experts also speculate that if the illness continues to spread it may curtail China’s need for the $40 billion of ag products they committed to the in the phase one deal.
