Daily Digest 8/13 — Shippers Frantic After China’s Busiest Port Shuts Container Terminal Due to Covid; South Korea Reports African Swine Fever on Large Commercial Pig Farm…

Economy

Shippers Frantic After China’s Busiest Port Shuts Container Terminal Due To Covid – ZeroHedge

t now looks that this worst case scenario is in play after Chinese authorities on Wednesday closed a major container terminal at the Port of Ningbo after a dock worker tested positive for COVID, raising fears among traders that supply chain disruptions that occurred when Yantian terminal in Shenzhen reduced output by 70% for a month earlier this summer would be repeated.

According to FreightWaves which cited local media reports and logistics operators, all operations at the Ningbo Meidong Container Terminal, also referred to as the Meishan Terminal, were immediately suspended following the positive test results.

Fed to unveil bond-buying taper plan next month; jobless rate to fall slowly – Reuters

The Federal Reserve will announce a plan to taper its asset purchases in September, according to a solid majority of economists polled by Reuters who also said the U.S. jobless rate would remain above its pre-pandemic level for at least a year.

Since the release last week of a strong U.S. jobs report, which showed an unexpectedly sharp drop in the unemployment rate to 5.4% in July, a flurry of Fed officials have suggested the U.S. central bank might start reducing its $120 billion in monthly purchases of Treasuries and mortgage-backed securities (MBS) sooner rather than later.

China buys U.S. beef, pork, soybeans – Brownfield

China bought 600 tons of U.S. pork last week, well below the more than 18,000 tons from the previous week, but still a positive sign for demand after being out of the market for about a month. China also bought 1,000 tons of U.S. beef, along with good amounts of old crop sorghum and old and new crop soybeans. Old crop corn exports were up sharply on the week and new crop sales were solid as the reality of Brazil’s much smaller than expected second corn crop starts to take hold.

Environment

South Korea Reports African Swine Fever on Large Commercial Pig Farm – Farm Journal

A South Korea pig farm with 2,400 pigs confirmed an outbreak of African swine fever (ASF) on Sunday. The country is on high alert to contain the spread of this deadly virus just three months after the latest confirmed case on May 4.

According to the Korea Herald, the government-led ASF task force announced that the ASF case was confirmed at a domesticated pig farm in Goseong-gun, Gangwon Province. This farm is the only pig farm in a three-kilometer radius. There are two other farms with a combined 3,100 pigs in a 10-kilometer radius.

Health

Israel kicks off third shot COVID vaccination campaign among 50+ – Jerusalem Post

Israelis as young as 50 can get a third shot of the coronavirus vaccine beginning immediately, the Prime Minister’s Office announced late Thursday.

The decision was made following a lengthy meeting by the Advisory Committee for the Corona Vaccines and Epidemic Control.

Healthcare workers, people at high risk of developing serious COVID, prisoners and wardens also qualify for the shots, the Health Ministry said, adding that further discussions are taking place to formulate the final guidelines regarding various populations.

FDA authorizes COVID booster shot for immunocompromised ahead of CDC meeting – AP

U.S. regulators have okayed an extra dose of COVID-19 vaccine for transplant recipients and others with weakened immune systems as the delta variant continues to surge.

In the decision, announced late Thursday night, the U.S. Food and Drug Administration amended the emergency use authorizations (EUAs) for both the Pfizer-BioNTech COVID-19 Vaccine and the Moderna COVID-19 Vaccine.

It comes as the Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices is scheduled to meet Friday to discuss further clinical recommendations regarding immunocompromised individuals.

The announcement by the FDA applies to millions of Americans who are especially vulnerable because of organ transplants, certain cancers or other disorders.

CDC amends Florida’s COVID-19 numbers after pushback from state officials – NY Post

The Centers for Disease Control and Prevention adjusted its COVID-19 tracking for Florida as confusion over reporting practices sparked a feud between federal and state authorities.

The post Daily Digest 8/13 — Shippers Frantic After China’s Busiest Port Shuts Container Terminal Due to Covid; South Korea Reports African Swine Fever on Large Commercial Pig Farm… appeared first on Peak Prosperity.

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