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China Said Ready To Splurge On US Pork, But Local Stocks Unimpressed Amid Tenuous Trade Outlook
A day after sources indicated that Beijing has granted fresh waivers to state and private buyers for US soybeans, China is said to be readying purchases of US pork amid shortages at home and ahead of principal-level talks between Liu He, Bob Lighthizer and Steve Mnuchin in Washington early next month.
The plans are not final yet, but sources told Bloomberg volumes could be around 100,000 tons. Chinese companies are making price inquiries to exporters that include Smithfield Foods and Tyson Foo
Big number reality check: 100,000 tons of pork = 2.3 oz per Chinese person, or about half a spare rib or a third of a pork chop.