Afternoon Coffee: China Ramps Up Pork Imports from U.S.; Theresa May Throws a Hail Mary

Hoda Bogdan/Adobe Stock

African swine fever has hit the Chinese hog production sector hard in recent weeks, kickstarting a surge of pork orders from the US.

Despite trade tensions, China ordered 23,800 metric tons of pork from America recently, the biggest weekly purchase in just under two years. Hog futures are also up 42% in the US in March.

Numbers could improve even more if the two countries agree to more agricultural trade, but could equally take a huge hit if the US falls foul to the deadly swine fever disease too.

Theresa May Vows to Step Down as U.K. Prime Minister

As Brexit negotiations rumble on this week, Theresa May has finally given in to calls for her to move aside.

The Prime Minister vowed to step down from her post if her Tory MPs back her Brexit deal. She claims that she realizes the Tory party does not want her leading the next phase of Brexit negotiations, and will not stand in the way of such a feeling.

With eight separate plans all failing to gain majority votes yesterday, it remains to be seen what happens with Theresa May and her Brexit plan.

Turkish Port Operator to Spend Big on U.S. Container Terminal

The Turkish Port operator, Yildirim Holding Inc, has lined up a potential $2 billion to bid for a multiyear concession at Long Beach Container Terminal. It has been reported that they have already met with US regulators about the proposed deal. They are the only active port operator bidding for the terminal against three investment funds.

This comes as a surprise, as the operator is relatively small and has little history in US trade. The terminal is being sold by China’s Cosco Shipping Holdings to ease US security concerns.

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