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17

2022

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07

China’s Pork, Beef and Mutton Output All Show a YoY Growth in H1 2022

Source:

On July 15, Fu Linghui, the spokesman for the National Bureau of Statistics, introduced at the meeting that China’s animal husbandry has grown steadily.

On July 15, Fu Linghui, the spokesman for the National Bureau of Statistics, introduced at the meeting that China’s animal husbandry has grown steadily.

 

In H1 2022, the total output of pork, beef, mutton and poultry were 45.19 million tons, a YoY increase of 5.3%. Among them, the output of pork, beef and mutton increased by 8.2%, 3.8% and 0.7% respectively, while of poultry meat decreased by 0.8%; the output of milk increased by 8.4%, and egg production increased by 3.5%.

 

In Q2 2022, the output of pork, beef, mutton and poultry increased by 1.6% year-on-year, of which pork increased by 2.4%.

 

Pork: Continuing increase in pig slaughtered and inventory

In H1 2022, 365.87 million live pigs were sold across the country, a YoY increase of 28.45 million or 8.4%; pork production was 29.39 million tons, a YoY increase of 2.24 million tons or 8.2%. As market prices rebounded, breeding industry has turned to profits with gradually improved production expectations, and the inventory of live pigs has increased month-on-month.

 

In Q2 2022, there were 430.57 million live pigs, an increase of 8.04 million or 1.9% over the end of Q1. Among them, the stock of breeding sows was 42.77 million, an increase of 920,000 or 2.2% over Q1; 365.87 million live pigs were sold, an increase of 8.4%.

 

Cattle & Sheep: Steady production and increased milk

In H1 2022, China’s beef for sale was 20.08 million, a YoY increase of 3.2%; Its output was 3.02 million tons, up 3.8%; Milk output was 16.69 million tons, up 8.4 percent; 138.74 million of sheep were sold, an increase of 0.5% over the same period last year; Mutton production was 2.12 million tons, up 0.7 percent.

 

In Q2 2022, the national cattle inventory was 101.11 million, an increase of 3.4% year-on-year and 2.3% quarter-on-quarter; National sheep inventory 330.78 million, year-on-year growth of 2.4%, a month-on-month growth of 3.0%.

 

Production Increased in egg while decreased in poultry meat

In H1 2022, eggs continued to run its prices at a high level. Thus Farmers actively expanded its production. The output of poultry eggs was 16.11 million tons, an increase of 3.5% over the same period last year. While China sold 6.91 billion of poultry meat, down 0.7% year-on-year. Poultry production was 10.67 million tons, down 0.8%.

 

In Q2 2022, China's poultry inventory was 6.11 billion, up by 2.0% year-on-year and 2.7% quarter-on-quarter.

 

In H1, China’s CPI rose by 1.7% YoY. Pork prices dropped by 33.2%, while grain prices increased by 2.4%, the price of fresh fruit increased by 12.0%, and of fresh vegetables increased by 8.0%.

 

China’s total import and export increased by 9.4% YoY, which was increased by 9.5% YoY in May, with 9.4 percentage points higher than that in April; in June, it was increased by 14.3% YoY, 4.7 percentage points of MoM increase. Overall, China’s trade structure has continued to be optimized, there is potential for demand recovery.

 

Regarding the live pig market, Fu said that at present, the overall production capacity of live pigs has returned to normal levels. Pork prices do not have the basis for a sharp rise.

 

In the early stage, big pigs which were reluctant to be sold before will be released one after another, which is conducive to the supply of pork. In addition, relevant departments will strengthen market regulation and stabilize the supply and demand.

 

In the next stage, after entering the flood season, the supply of fresh and live commodities in some areas may be affected to a certain extent, and international imported products may continue to affect the market. Thus, the price is expected to maintain a moderate upward trend.