China’s massive pig farms spark a supply glut as hog prices hit 8-year low

China’s pig prices have plunged to their lowest level in nearly eight years, as the country struggles to deal with a persistent supply glut triggered by the spread of huge industrial farms and a post-holiday drop in meat consumption. Live pigs were selling for 11.05 yuan (US$1.60) per kilogram on average during the third week of March, down 2.9 per cent from the previous week and 28 per cent from a year earlier, data from China’s Ministry of Agriculture and Rural Affairs showed. Prices are now...