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20

2023

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04

Pig Prices are Showing an Upward Trend

Source:

OIG+X

According to the data monitoring system of China's Pig Price Network, the average price of live pigs is 13.99 yuan/kg (US$2.03/kg), an increase of 0.05 yuan/kg (US$0.0073/kg) from yesterday; a month-on-month decrease of 9.51%; and a year-on-year increase of 5.43%.

On April 19th, the National Development and Reform Commission (NDRC) held a press conference, during which Meng Wei said that pig prices have remained down since the beginning of this year due to relatively sufficient market supply and a temporarily weak phase in pork consumption. Recently, the NDRC has organized relevant companies several times to analyze and evaluate the situation of the pig market in the later stages. The department believes that the overall domestic pig production capacity is currently at a reasonable and sufficient level, with less possibility for a significant further decline in pig prices. As pork consumption gradually recovers, pig prices are expected to progressively rise to a reasonable range.

 

According to the data monitoring system of China's Pig Price Network, the average price of live pigs is 13.99 yuan/kg (US$2.03/kg, USD/CNY=6.8849), an increase of 0.05 yuan/kg (US$0.0073/kg, USD/CNY=6.8849) from yesterday; a month-on-month decrease of 9.51%; and a year-on-year increase of 5.43%.

 

In recent years, the NDRC has continuously summarized and improved the practical experience of regulating live pig and pork prices, and has specifically issued a plan for regulating pork reserves. It hopes to push live pig prices to operate in a reasonable range through reserve regulation and other means.

 

Meng Wei stated that the NDRC will continue to closely monitor the trend of the live pig market, especially by strengthening key indicator monitoring such as the inventory of breeding sows, live pig inventory, and selling volume. The NDRC will carry out central pork reserve regulation work in accordance with the provisions of the pork reserve regulation plan, and increase efforts when necessary to promote the stable operation of the live pig market. At the same time, breeders are advised to arrange production and operations reasonably and maintain normal selling and stocking rhythms.