Hog prices reached a one-month high on Friday, trading over 84 cents per pound. Prices are climbing on renewed expectations that China will need to buy more U.S. pork as it continues to struggle with the African swine fever outbreak that has led to the death of over 10 million of hogs during the last year.
Death from disease, preventative culling, and restrictions on animal transport are creating market shortages and could lead to more Chinese demand.
The ongoing trade war with China has hampered purchases, but some headway on a deal was made this week, helping to boost markets on Friday.