H1 pork production plunges 4.9% prompting price spike

China’s pork production fell 4.9% to 25.74 million tons in the first half of 2015 compared to the same period in 2014, Dim Sums reported, citing data from the National Bureau of Statistics. The number of hogs slaughtered fell 5.1% for the period, with inventory falling 6% to 417.4 million tons as of the end of June. The decline reflects high corn prices, weak demand, excess capacity and stronger enforcement of environmental regulations, but as supplies shrink prices have begun to surge. Retail pork prices were up 5.5% from a year ago in early July according to the bureau. Meat output for poultry, lamb and beef, meanwhile, was up 2.8% for the first half of the year.