China's beef & dairy farmers running out of money
Last week's meeting of the standing committee of China's State Council called for relief policies to help beef and dairy farmers who are in financial straits . According to a report on the meeting cattle and sheep farms have seen shrinking profits due to falling prices and rising costs. The Ministry of Agriculture and Rural Affairs (MARA) has organized several meetings since August to address dairy and beef issues. An August 21 meeting concluded that the industry faces a dire situation with large losses for farmers and companies due to poor dairy and beef prices and pressure from imports. MARA data indicate that China's beef prices have been on a downward trend over the past two years. The average September 2024 price is down 23 percent since the decline began in January 2023. The current average beef price is about the same as in 2019. Source: Wholesale price data compiled from China's Ministry of Agriculture and Rural Affairs. China's milk prices have been on a s...
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