Chinese pig prices are closing in on lows last seen in 2010, as overproduction in the world’s biggest market for the animals adds to the deflationary pressures sweeping across the economy.
Live pigs ready for slaughter on Thursday hit fresh lows of Rmb9.59 (US$1.4) per kilogramme, according to data from agriculture consultancy Shanghai JC Intelligence — the lowest for 16 years and well below the cost of production.
Pork prices, at Rmb22 per kg, have also plummeted to their lowest level since October 2021, according to weekly official data published on Wednesday.
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