From Reuters, November 12:
China's pork prices slump on higher supply, falling consumption
China’s pork prices fell sharply last week for the first time in 10 months, as reports of fresh disease outbreaks in the northeast led to more hogs being sent for slaughter just as consumers cut back on pricey meat, analysts said.....MUCH MORE
Chinese pork prices hit record levels after an epidemic of African swine fever killed millions of pigs in the world’s top pork producer.
Beijing says its herd has shrunk by 41% since a year ago, or almost 200 million pigs, and analysts say pork output will plunge by about a quarter, or 13 million tonnes this year.
Prices surged in October, reaching a high of 53.79 yuan ($7.69) per kilogram on Oct. 23, up 188% from a year earlier. But they have fallen back since the end of October, reaching 50 yuan on Nov. 8.
“After recent price hikes, pork was already at a point where people can’t afford it, so it just took one trigger,” said Jim Huang, chief executive at China-America Commodity Data Analytics.
He believes the trigger was panic-selling by farmers in the northeast about two weeks ago, where reports have circulated of a wave of outbreaks of swine fever....
If interested see the post immediately below for some insight into the health hazards of trading:
So You Want To Trade Natural Gas Do You?