Live hog RMB prices in China plunged by around 30 percent in the first quarter, in one of the steepest declines ever recorded, after a significant increase in production by new farms.

The falling price led some farmers to send more hogs to slaughter amid worries prices would come under further pressure later in the year. Total China’s port output rose 2.1 % to 15.4 million tonnes in the 1st quarter compared with the same period of year 2017.