China's Pork Prices Plunge to Multi-Year Lows Despite Government Support, Highlighting Broader Economic Woes
• Pork prices in China have plunged over 6% since April 2022, hitting multi-year lows according to Bloomberg data
• Despite government purchases for strategic reserves, prices continue to fall as authorities tell farmers to sell hogs as soon as possible
• Dropping pork prices signify growing concerns around deflation and unstable growth in China
• China's November consumer price index fell 0.5% year-over-year, the biggest slide since November 2020
• Factors like real estate debt, low consumer optimism, and demographics have prevented China’s anticipated post-COVID economic rebound