It seems the United States is not the only country struggling with an oversupply of pork.
China has started buying frozen pork for its government reserves to relieve an oversupply of live pigs that has driven live pig and pork prices below breakeven, according to the official Chinese news service Xinhua.
Statistics released by China’s National Development and Reform Commission Price Monitoring Center showed that average live pig prices in major cities across China over the past four weeks fell by 3.75 percent while wholesale corn prices advanced 1.2 percent, dropping the pig feed price ratio below breakeven, Xinhua reported.
It was less than two years ago that China suffered from a pork shortage due to a harsh winter and a bout of blue ear disease that thinned its herds, forcing it to boost pork imports. Since then, the government has sponsored a number of incentives and increased large hog production facilities to restock supply.
Source:
MeatingPlace.com, June 12, 2009
By Rita Jane Gabbett