BEIJING/CHICAGO/CARAMBEI, BRAZIL ¨C Ken Maschhoff, chairman of the largest U.S. family-owned pork producer, has watched profits fall as trade tensions rise between the United States and China.
His company, The Maschhoffs, has halted U.S. projects worth up to $30 million and may move some operations overseas. Investing in domestic operations now would be ¡°ludicrous¡± as China and others retaliate against U.S. agricultural goods, Maschhoff said from the firm¡¯s Carlyle, Illinois, headquarters.
Across the globe, Chinese pig farmer Xie Yingqiang sent most of his 1,000-pig herd to slaughter in May to limit losses after Chinese tariffs on U.S. soybeans hiked feed prices and left him unable to cover his costs.
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