Part 2/11:
Recent data from China's Ministry of Agriculture indicates that pork prices have been falling consecutively for ten weeks, reaching their lowest levels in four years. In markets like Beijing, pork is now selling at about 14 yuan per kilogram (roughly $1 per pound), a level that delights shoppers but masks a brewing disaster behind the scenes.
Farmers are losing money with every sale, and many are preparing for mass liquidation. Large corporations involved in pork production, such as Muan and Shinshi New Hope, are also suffering—delivering pigs at a loss to cover mounting debts amounting to approximately 3.7 trillion yuan (around $550 billion). These corporate giants are essentially drowning in debt, desperately selling off assets to survive, highlighting a systemic overcapacity crisis.