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03

2023

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01

China’s Imported Pork Market Weekly Review (Dec 26-Jan 1)

Source:

OIG+X

Last Friday, the price of live pigs dropped to 8.25 yuan/jin, while the price of pig carcass continued to drop, maintaining at 20-21 yuan/kg. Last Monday (Dec 26) saw quite small trading volumes. Cold stores at ports were close to the New Year holiday when people wouldn’t pick up products. Therefore, many traders chose to place their orders after New Year’s Day, leading to lower demands for orders last Friday (Dec 30).

 

Last Friday, the price of live pigs dropped to 8.25 yuan/jin, while the price of pig carcass continued to drop, maintaining at 20-21 yuan/kg. Last Monday (Dec 26) saw quite small trading volumes. Cold stores at ports were close to the New Year holiday when people wouldn’t pick up products. Therefore, many traders chose to place their orders after New Year’s Day, leading to lower demands for orders last Friday (Dec 30).

 

The trading volume increased week on week, but the spot transaction price at the port was still falling. Traders mainly aim at clearing out the inventory before the Chinese New Year. The price of products with new dates was better, yet with still low possibility of price increase. For example, the port transaction price of frozen pork shoulder 4D with recent dates was about 2571 US$/T (18,000 yuan/T), while those with older date was about 2471 US$/T (17,300 yuan/T).

 

Some products had a decline of 71 US$/T (500 yuan/T), while the prices of pig hands and pig feet were relatively stable. The retail price of imported products was stable without too much fluctuation and small order volumes. There lacks the stocking boom as in previous years before. Cheaper prices of fresh or chilled products than frozen ones contribute to the main factor.

 

The content is from our Weekly Report (Dec 26-Jan 1), if you want to know more about Chinese meat market information, please contact us at overseas@oigcn.com.