Chinese hog farmers losing money

China’s hog farmers are losing a lot of money because expansion after African Swine Fever has been overdone, because feed costs are soaring and because a wave of COVID-19 has closed restaurants and reduced demand.

Reuters news agency reports losses are about $75 per hog, a sharp reversal from profits of $157 a year ago.

Farmers are trying to trim costs by switching from corn and soybeans to cheaper feeds and some are no longer preparing hogs for market, but have them on maintenance rations.