Recently, pork prices across various regions in China have been on a downward trend, with special prices for pork heads in some cities dropping to just 2 yuan per jin, leading to a rush among consumers to purchase. (Video screenshot)
[People News] While spring is typically a season of renewal, the live pig market in China is experiencing an unusual 'late spring chill.' Recently, pork prices in mainland China have continued to fall, with live pig prices in several provinces and cities dropping below 10 yuan per kilogram, reaching a historical low in recent years. In Shenyang, Liaoning, the price for pork leg has even plummeted to 1.99 yuan per jin, drawing significant public attention. While these low prices benefit consumers, they have left many farmers feeling as if they are caught in a 'late spring chill,' as the pig farming industry has entered a phase of continuous losses, indicating an oversupply. Chinese experts predict that in the short term, pork prices in China will remain in a low-level fluctuation.
Shenyang's pork leg special price has dropped to 1.99 yuan per jin
Monitoring data from the Ministry of Agriculture and Rural Affairs of the Communist Party of China indicates that wholesale pork prices have been steadily declining since August 2024, with the national average wholesale price now at 7.92 yuan per jin, a decrease of approximately 43% from the peak of 13.88 yuan per jin.
In the third week of March 2026, all 30 provincial-level administrative regions in China that monitor live pig prices (with Tibet being the only exception) reported a decline in prices. The average price has fallen to 11.05 yuan per kilogram, reflecting a year-on-year decrease of 28%, marking the lowest level since June 2018.
In regions such as Liaoning, Henan, and Beijing, the retail price of pork has dropped to a relatively low level not seen in recent years, with a continued acceleration in the decline since March.
On March 29, several fresh supermarkets in Shenyang, Liaoning, launched a limited-time flash sale, offering pork leg meat at a promotional price as low as 1.99 yuan per jin, with a purchase limit of 3 jin per person. This led to long lines of citizens eager to buy. This price marks a new low in nearly seven years, representing a drop of over 85% compared to the high price of 15 yuan per jin during the New Year period.
The 1.99 yuan per jin pork in Shenyang is not an isolated incident; similar low prices of 4.9 yuan per jin have also been reported in cities like Fuzhou and Chengdu.
On March 24, at a farmers' market near Xuecheng Road in the Hunnan District of Shenyang, pork prices had fallen to around 10 yuan per jin, with promotional prices even lower than those of nearby green peppers, ginger, and garlic.
Despite the drop in pork prices, there has not been a significant increase in pork sales.
Vendor Wang Hongliang noted that after the Chinese New Year, pork prices have decreased by about 2 yuan per jin compared to the prices during the holiday. 'While the low prices have attracted many citizens, fresh pork is a fast-moving consumer good, and daily sales volumes have not increased significantly.'
In response, some netizens expressed their frustration, saying, 'Seeing the meat prices is painful; feed prices are rising while pig prices are falling. I really don’t know how to get through this year.'
The breeding industry is facing severe losses.
Huang Dan, the head of Ruihui Industrial Co., Ltd. in Yiyang City, Hunan Province, stated, 'Since August 2025, the price of external three-yuan live pigs has dropped from over 7 yuan per jin to just over 5 yuan now, which is the lowest it has been in many years.'
While consumers benefit from the falling pork prices, the breeding industry is under significant pressure, with many farmers experiencing losses of 'money on every pig raised.'
The head of the livestock section at the Agricultural and Rural Bureau of a certain county in Henan Province stated that the current price of live pigs in the local market ranges from 4.7 yuan to 6 yuan per jin, which is insufficient to cover costs even under self-breeding and self-raising conditions. When labour costs are factored in, raising a pig could result in a loss of two to three hundred yuan.
For instance, Muyuan Foods Co., Ltd. released its 2025 annual report on March 28, reporting an operating income of 144.145 billion yuan, a year-on-year increase of 4.49%, while the net profit attributable to the parent company was 15.487 billion yuan, reflecting a year-on-year decrease of 13.39%.
Besides Muyuan Foods, Wens Foodstuff Group's sales revenue in February reached its lowest level since the same period in 2025; although Tangrenshen saw an increase in sales volume, its sales revenue fell by 22.74% year-on-year.
What implications does the ongoing decline in pork prices have for the macroeconomy?
Media analysis indicates that pork has a significant weight in China's Consumer Price Index (CPI), often humorously referred to as 'pork inflation.' A drastic drop in pork prices can trigger a series of chain reactions: a decrease in pork prices will directly lower the CPI index. If the CPI remains low for an extended period, it may raise concerns about deflation in the market, which could subsequently dampen corporate investment willingness and consumer confidence. Additionally, when pork prices fall below the cost line, it may lead to a mass exit of retail investors who have weak risk resistance.
Experts have noted that the drastic drop in pork prices is a byproduct of economic digitalisation and intensive farming practices. The current challenge for the government is to ensure consumers' 'freedom to eat meat' while preventing millions of farmers from facing bankruptcy and avoiding a potential retaliatory price surge in the future.' △
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