Global Markets: China plans to increase nation’s pork production

By MarketsFarm

WINNIPEG, Sept. 11 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– China is planning to launch a nationwide effort to increase pork production, following a spike in prices after African Swine Fever (ASF) ravaged pork herds. Along with preventing and controlling outbreaks of ASF, the government will be taking steps to increase hog production volumes. “We are confident and capable of rising to the challenge, dissolving the risks and doing well in keeping prices in the pig market stable,” said Peng Shaozong, of the National Development and Reform Commission, to the Canadian Press.

– United Kingdom Prime Minister Boris Johnson suspended Parliament for five weeks, a move that many are calling un-democratic. Scotland’s highest civil court said the government’s action was illegal due to “its purpose of stymieing Parliament.” Britain’s Supreme Court will make a final ruling on the matter at a hearing next week.

– Oil prices rose due to recent industry data showing a decline in U.S. stockpiles. OPEC+ and its allies will meet today in Abu Dhabi to discuss production cuts and the outlook for global economic demand.

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