LIVESTOCK-U.S. hog futures extend setback on U.S.-China trade tensions

LIVESTOCK-U.S. hog futures extend setback on U.S.-China trade tensions


U.S. lean hog futures touched their lowest prices in about two months on Tuesday on concerns over elevated trade tensions between Washington and Beijing.

Traders are worried that a resolution to the U.S.-China trade war may be farther off than previously expected, after U.S. President Donald Trump’s surprise statement on Sunday that he would raise tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent.

U.S. pork producers want an end to the dispute because China’s purchases of American pork have slowed since Beijing raised duties on imports from the United States to 62 percent last year.

full story – Reuters

Tom Polansek