Daniels Trading Senior Broker and Daniels Ag Services Senior Market Analyst John Payne was quoted in the February 04, 2014 China Daily USA article titled “Virus hits US pork exports.” This story reports the PEDV and its toll on the US pork industry.
John Payne, a senior market analyst with Daniels AG Services in Chicago, said PEDV has created “another hurdle” for US producers to overcome “just to meet demand”.
“Farmers are having a harder time producing the amount they need to produce in the short term just to get expansion growing,” Payne said Monday in an interview with China Daily. “These guys haven’t been producing at the rate they did five years ago, and now that the economy can afford to, farmers can’t seem to get ahead of the pace.”
Payne added that Smithfield’s recent deal with the WH Group could have an impact on the company’s ability to weather the recent uptick in the price of pork products.
“If you’ve got a good business, the last five years have been tough,” Payne told China Daily. “Smithfield doesn’t have to deal with that because they have fresh capital. With this new virus, plans might be delayed a little bit.”
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