African Swine Fever unlikely to be an aporkalyptic event for hog futures
- MATERIALS RISK
- According to the Chinese Zodiac, 2019 is the Year of the Pig. This year has certainly lived up to its name. The discovery and subsequent outbreaks of the African Swine Fever (ASF) virus in China in August 2018 sent shockwaves through the hog market. ASF is a highly contagious virus that ravages hog herds and currently has no cure. The price of US hog futures surged by 67% during March-April as the scale of the potential losses became clearer. Since then though prices have retraced 50% of the earlier spike higher, falling back to around 70 cents per lb.