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06

2023

-

02

China’s Pork Price Decreased

Source:

OIG+X

On February 6, the NDRC announced that the pig grain ratio has entered the first-level warning range of excessive decline, and the state will start pork reserves.

On February 6, the NDRC announced that the pig grain ratio has entered the first-level warning range of excessive decline, and the state will start pork reserves.

 

According to the monitoring of the NDRC, during the week from January 30 to February 3, the national average ratio of pig to grain was 4.96:1, entering the first-level warning range of excessive decline.

 

As of the week of February 1, 2023, the national pig feed price ratio was 4.00, 9.50% lower than before the Spring Festival (January 18). According to the current price and cost, the future loss of pig breeding was 274.52 yuan per head. Domestic pig prices were mainly reduced in the current week. With the end of the Spring Festival holiday, the terminal consumption was gradually weakening, the working rate of slaughtering enterprises recovered at a low level, the overall acquisition was not difficult. Although at the breeding end, people were reluctant to lower the price, the pressure of pig selling still existed, and the pig price was slightly lower in the week. In the second week of February, the supply of live pigs may continue to increase, while consumption is in the traditional off-season. It is expected that the price of pigs may decline slightly.

 

In some markets in Shandong, Hebei, Jilin and other places, the flow of pork stalls has increased a lot compared with the same period in previous years. Some sellers said that the price of pork fell sharply before the Spring Festival, while the decline range after the Spring Festival was significantly narrowed. At present, the price of pork is cheap, and both the supply and consumption are relatively strong. "The price of selected pork is 9.5 yuan per kg, the price of pig hand meat and pig feet is 7.99 yuan per kg and 6.99 yuan per kg respectively, the price has dropped by more than 1 yuan per kg, which are all cheap now."

 

For the import price the spot market doesnt see a significant rise in pork prices because the price of domestic live pigs continued to drop and consumption tends to level off after holidays. The price of domestic fresh and frozen pork hasnt risen, plundering previous price advantage in the imported market, especially shoulder, legs, and bellies. For more analysis, please see our Weekly Report. Send an email to overseas@oigcn.com to get them!