How does one of the world’s biggest pork firms go bust during a boom?
A giant US player is quitting despite huge export hikes during the pandemic – the reasons why get to the heart of the industry
How does one of the largest pork companies in the US go out of business at the height of a crazy global pork boom? And what does this tell us about pig farming today? The answer to that question starts where most of the world’s pigs end up, in China.
China produces and consumes almost half the world’s pork. But when African swine fever was detected in the Chinese pig herd in August 2018, it led to millions of hogs being culled in an attempt to control the spread. The drop in China’s pork production has been precipitous. Since 2018, swine populations have fallen to levels not seen since the 1990s, eliminating decades of growth.