Posted 2/3/2024, 1:00:00 AM
China's Economic Slump Leads to Falling Pork Demand, Hurting Small Pig Farmers
- Pork is a staple for Lunar New Year celebrations, but demand and prices have fallen in China recently
- Vendors and suppliers report selling less pork and at lower prices compared to previous years
- This reflects broader economic weakness - declining wages and consumer prices in China
- Lower-income consumers like migrant workers are cutting back most on pork purchases
- The pork industry downturn is hitting small pig farmers the hardest, accelerating consolidation
