New Year feasts bring cold comfort for China's pig farmers

Beijing

WITH Chinese New Year festivities fast approaching in China, pig farmers in the world's biggest pork market have little to cheer. As they fatten herds to meet peak demand, a slump in retail prices and a spike in feed costs are grinding up profits.

A wave of imports has squeezed pork retail prices by 10 per cent since they hit record levels in June on a domestic supply shortage. Meanwhile, the price of soyameal has hit a two- and-a-half-year high in Sichuan as farmers buy up stock to feed up pigs for the New Year "golden season".