This week Joel Haggard, U.S. Meat Export Federation (USMEF) senior vice president for the Asia Pacific, provides us with some insight into our Asian markets.

As the first quarter of 2015 draws to a close, Joel Haggard offers his insights on the factors shaping demand for U.S. pork in key Asian markets.

Haggard notes that the U.S. dollar remains at a very high level versus the currencies of most importing countries and several major competitors – especially the European Union, where pork prices continue to feel downward pressure from the closure of the Russian market. On the positive side, domestic pork prices are higher year-over-year in Japan and South Korea, which could bolster their demand for imported pork.

In China, Haggard notes that pork imports are modestly higher year-over-year despite ample domestic supplies and sluggish demand during the recent Lunar New Year holiday period.