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Use the following information to work Problems 7 and 8. Chinese hog farms 'panic' as swine virus shrinks herds China produces half the world's pork,
Use the following information to work Problems 7 and 8.
Chinese hog farms 'panic' as swine virus shrinks herds China produces half the world's pork, but 80 percent of China's hog farms are not going to restock as a swine fever spreads. Farmers fatten hogs with soybean, so imports of soybeans are expected to fall by 85 million tons by September.
7. Explain how the virus will change the prices of hogs, soybean, and pork.
8. Use graphs to show how supply and demand will change in the markets for corn, soybean, and wheat.
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