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17

2023

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02

China’s Pig Price This Week

Source:

OIG+X

The price of live pigs this week was 14.95 yuan/kg, up 3.25% (USD 2.23/kg) WoW; the price of pork was 20.50 yuan/kg (USD 3.06/kg), down 4.25% WoW; the price of piglets was 32.06 yuan/kg (USD 4.79/kg), up 5.43% WoW.

 

The price of live pigs this week was 14.95 yuan/kg, up 3.25% (USD 2.23/kg) WoW; the price of pork was 20.50 yuan/kg (USD 3.06/kg), down 4.25% WoW; the price of piglets was 32.06 yuan/kg (USD 4.79/kg), up 5.43% WoW.

The price of pigs continued to rise during the week, and the weekly average price rose MoM. The reason for the pig rise were as follows:

-The sales volume at the breeding end was low as they were reluctant to sell

-The Chinese Policy--state reserve boosted the market's expectations

-The phenomenon of secondary fattening increased and the market supply decreased

-Piglet prices continued to rise


At the same time, it’s worth noting that as the downstream consumption was sluggish, the delivery of pig carcass was poor, and the slaughtering enterprises held down prices, so the rise of pig prices was limited.

 

-Forecast of pig price for next few months

In the second half of February, China's pork consumption continues to be in the post-holiday inertia period. In the short term, people' pork consumption will gradually shift from the meat stored before the Spring Festival to fresh meat. 

 

The sales of pig carcass from slaughtering enterprises will also be in the low period. On the supply side, the sales volume from farm is still low on the whole, and some farmers moderately reluctant to sell their pigs in the first half of the year. It is predicted that during the second half of February, the price of big pigs will gradually fluctuate and show an increase trend.