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01

2022

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09

China's Beef and Mutton Wholesale Prices in Aug

Source:

OIG+X

According to the data from MARA, China's beef wholesale prices in Aug fluctuated from 10.88 $/kg to 11.40 $/kg. China's mutton wholesale prices in Aug fluctuated from 9.41 $/kg to 9.96$/kg. It can be seen from the data that the beef wholesale market sees a similar situation to last year while the mutton wholesale price dropped a lot this year.

 

Note*: The following prices are close to retail prices in China, rather than the prices for domestic slaughterhouses. USD to CNY exchange rate is 6.8.

 

According to the data from MARA, China's beef wholesale prices in Aug fluctuated from 10.88 $/kg to 11.40 $/kg. The beef average price is 11.29 $/kg (76.75 yuan/kg), slightly increasing than 11.15 $/kg (75.79 yuan/kg) year-on-year. China's mutton wholesale prices in Aug fluctuated from 9.41 $/kg to 9.96$/kg. The mutton's average price is 9.84 $/kg (66.92 yuan/kg), dropping almost 4 yuan from last year of 10.40 $/kg (70.70 yuan/kg). It can be seen from the data that the beef wholesale market sees a similar situation to last year while the mutton wholesale price dropped a lot this year.

 

There exists seasonality in Chinese beef demand. September and October are called by Chinese buyers “Golden Sept and Silver Oct” because of the consumption fever during the Mid-Autumn Festival and the National Day. The mid-to-late Aug is usually the stocking period for Chinese buyers. However, several aspects need follow-up attention: the domestic epidemic control, continuous depreciation of RMB, high inventory level, and uncertainties of arbitrary undersell behaviors.