Sources: China said to have made enquiries about purchasing US pork

Dhwani Mehta FXStreet

Reuters quotes some sources, as saying that China is reportedly said to have made enquiries about purchasing US pork.

Additional Details (via Bloomberg):

“The firms are inquiring about prices from pork exporters including Smithfield Foods Inc. and Tyson Foods Inc.

The volume of the purchases hasn’t been finalized but may be around 100,000 tons, some of which will be for state reserves.”

This doesn’t seem to be a part of the goodwill gesture towards the US on the trade issue. But it has more to do with Swine disease had negatively impacted the Chinese pork supplies.

However, the renewed trade optimism, in the wake of China expected to buy more US farm products in latest goodwill gesture, has lifted the risk sentiment. USD/JPY extends gains towards 107.50, Aussie recovers to 0.6800 and S&P 500 futures are advancing further towards 3k levels.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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