The Chinese pig herd is down by 32%
China's pig inventory has shrunk by almost a-thrid in July compared to the same month a year ago, right before the first confirmation of an African Swine Fever (ASF) outbreak. According to the Ministry of Agriculture, the number of pigs in the country has dropped by 32.2%, while sows inventory is down by 31.9%.
Just a month before this announcement, official data on Chinese pig inventory were: pig herd -25.8%; sow herd -26.7%. The rapid decline is worrying the global industry as the real data may show a different picture, with almost half of the Chinese pig herd gone by now. Analysts are also expecting record levels in pork prices for the next months. For now, China's live hog prices are at the national average at 23.49 yuan ($3.34) per kilo, above the record of 2016. China holds 50% of the world's pig herd but since February has started to import much more pork in order to satisfy the domestic demand.
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