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The biggest pig breeders in China, consumer of fully half the world's pork, seem to have bitten off more than they can chew. Big agribusinesses have elbowed their way into the sector and are rapidly modernising it, but have expanded pig herds so aggressively that, with demand now in a downturn, their hog prices are falling, losses are mounting, and debt is rising. More huge losses are expected next year, putting China's pig enterprises under pressure to slim down their breeding herds and sell off farms, many of which are sitting empty.

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