Tumbling pork prices could push China back into deflation this week, as the largest listed hog farmers flood the domestic market and complicate Beijing’s efforts to bolster confidence in the world’s second-largest economy.
Live hog futures traded on China’s Dalian Commodity Exchange have dropped about 15 per cent since the start of October, reflecting a sharp deterioration in expectations for nationwide pork prices. Wholesale pork prices in China are down more than 40 per cent from a year ago.
Economists said the falling cost of pork, with its heavy weighting in China’s official consumer price index, is likely to tip the country back into deflation when October data is released on Thursday.
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