"Now In Bust Cycle" - China Hog Futures Plunge Near Record Lows On Pork Glut | WHAT REALLY HAPPENED

"Now In Bust Cycle" - China Hog Futures Plunge Near Record Lows On Pork Glut

Chinese hog futures have fallen nearly 38% since launching in January amid rising concerns that the Chinese pork market has gone from shortage to surplus.

Readers may recall African swine fever was first reported in China in August 2018. The spread of the disease slashed the country's hog herd by at least 40%, resulting in hyperinflation of pork prices by 2019.

African swine fever has since been eradicated to some extent in the country as the government urged farmers to breed more pigs. At the same time, China Customs data showed the country imported a record amount of pork from the US in late 2019 and 2020 to replenish supplies.

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