With the Phase 1 deal approaching, Scott Shellady said the market has been “lethargic” despite the strong possible demand. “It will be interesting, as it’s the psychology of markets,” he said. “A lot of people join one side of the table because they think there’s going to be big demand, and if it doesn’t work out right away, the undercapitalized traders run for the doors first.”

“The U.S. share of the China pork imports was relatively small in 2019, but this could change significantly for 2020 once the U.S./China trade deal is complete,” The Hightower Report said.