According to the Wall Street Journal on the 24th, the "global trade war" launched by the Trump administration has hit overseas demand for American crops and meat. The latest export data released by the U.S. Department of Agriculture showed that China's purchases of American soybeans have dropped sharply and it has reduced its plans to import American pork in 2025.
According to the report, Karl Setzer, head of Consus Ag Consulting and market analyst, said when talking about China's reduction in purchases of American pork: "If we see large-scale cancellations again next week, I expect the market to react more."
Data released on April 24 local time for the week ending April 17 showed that China's plans to purchase American pork had been cut by 12,000 tons, bringing total sales that week to only 5,800 tons. This is the lowest weekly delivery volume reported so far in 2025, down 72% from the previous week. On the afternoon of the 24th, the settlement price of Chicago lean hog futures fell 0.2% to just below $1 per pound, and traders and analysts are considering whether China's reduction in purchases is an isolated case or a trend. Meanwhile, data from the U.S. Department of Agriculture showed that China bought only 1,800 tons of U.S. soybeans in the week ending April 17, a sharp drop from 72,800 tons in the week ending April 10.
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The report pointed out that China is the largest buyer of U.S. soybeans and the main export destination for U.S. pork. The data released on the 24th was the first data report covering a full week of sales released by the U.S. after the U.S. launched the tariff war.
Scott Gerlt, chief economist of the American Soybean Association, said, "If these tariffs continue, market fundamentals will depress U.S. soybean prices" because China's demand accounts for 60% of the U.S. soybean export market. He added that in the case of soybeans, it is very difficult to find other markets that can replace China's demand, and China's reduced purchases may have other chain reactions in the supply chain.
In addition, analysts and traders interviewed by the Wall Street Journal acknowledged that the erratic nature of the U.S. government's tariff policy means it is difficult to predict the short-term trend of agricultural futures prices.
According to the report, Karl Setzer, head of Consus Ag Consulting and market analyst, said when talking about China's reduction in purchases of American pork: "If we see large-scale cancellations again next week, I expect the market to react more."
Data released on April 24 local time for the week ending April 17 showed that China's plans to purchase American pork had been cut by 12,000 tons, bringing total sales that week to only 5,800 tons. This is the lowest weekly delivery volume reported so far in 2025, down 72% from the previous week. On the afternoon of the 24th, the settlement price of Chicago lean hog futures fell 0.2% to just below $1 per pound, and traders and analysts are considering whether China's reduction in purchases is an isolated case or a trend. Meanwhile, data from the U.S. Department of Agriculture showed that China bought only 1,800 tons of U.S. soybeans in the week ending April 17, a sharp drop from 72,800 tons in the week ending April 10.
The report pointed out that China is the largest buyer of U.S. soybeans and the main export destination for U.S. pork. The data released on the 24th was the first data report covering a full week of sales released by the U.S. after the U.S. launched the tariff war.
Scott Gerlt, chief economist of the American Soybean Association, said, "If these tariffs continue, market fundamentals will depress U.S. soybean prices" because China's demand accounts for 60% of the U.S. soybean export market. He added that in the case of soybeans, it is very difficult to find other markets that can replace China's demand, and China's reduced purchases may have other chain reactions in the supply chain.
In addition, analysts and traders interviewed by the Wall Street Journal acknowledged that the erratic nature of the U.S. government's tariff policy means it is difficult to predict the short-term trend of agricultural futures prices.