According to the US Meat Export Federation data, Japan bought $1.602 billion worth of American pork and related variety meats in 2010, 67% more than the next-largest buyer, Mexico, and 98% more than the third largest buyer, Canada.
“The concern is how much damage to the ports they had” in Japan, Jim Burns, a CME hog trader, said March 14. “And infrastructure-wise, even when the ports are open, how much product can they get into the country… and how can they distribute it?”
The markets appear to be reacting to short term concerns. Many believe the meat markets will recover.
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