China's massive pig farms have led to a global supply glut, causing hog prices to plummet to an 8-year low of $1.60 per kilogram. The drop in prices is attributed to a decrease in meat consumption following the Chinese New Year holiday.

China’s pig prices have plunged to their lowest level in nearly eight years, as the country struggles to deal with a persistent supply glut triggered by the spread of huge industrial farms and a post-holiday drop in meat consumption. Live pigs were selling for 11.05 yuan (US$1.60) per kilogram on average during the third week of March, down 2.9 per cent from the previous week and 28 per cent from a year earlier, data from China’s Ministry of Agriculture and Rural Affairs showed. Prices are now.....