China’s Ailing Pork Demand Another Sign of Economic Distress

• The Mid-Autumn Festival on Friday typically gathers friends and family over celebratory fare like braised pork belly or sweet and sour ribs. This year, the lunar holiday is followed in short order by the weeklong National Day break, which should extend demand for the more expensive meatier dishes beloved by Chinese.
• But consumption is falling flat and supplies are ample. Prices of hogs and pork, which usually rise in anticipation of shoppers opening their wallets, have actually fallen. It’s a troubling sign for an industry that has yet to recover from the constraints imposed by the pandemic.
• Hog prices nationwide have dropped over 5% so far this month, and wholesale pork prices have also turned lower. Slaughter rates at abattoirs are flat.

External Link : https://www.bloomberg.com/news/articles/2023-09-28/china-s-ailing-pork-demand-another-sign-of-economic-distress