U.S. Markets closed

African swine fever in China more severe than previously thought - ADM CFO

CHICAGO, Nov 13 (Reuters) - China's African swine fever outbreak is far more severe than thought earlier in the year, U.S. agribusiness giant Archer Daniels Midland Co said on Wednesday.

The disease, which has slashed China's hog herd by as much as half, has boosted margins for processing soybeans into animal feed, but the full impact has not yet been felt by the industry, Ray Young, ADM's chief financial officer, told the Stephens Nashville Investment Conference.

(Reporting by Karl Plume in Chicago Editing by Chizu Nomiyama)