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02

2023

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05

"Zibo Barbecue" Drives Meat Consumption

Source:

OIG+X

Recently, the topic of "Zibo barbecue" has been continuously hot, to some extent driving meat consumption. Data shows that as of April 23, the pork market price in Shandong Province was 17.95 yuan/kg ($US2.60/kg), an increase of 3.46% from the lowest point in April, and Shandong meat prices are significantly higher than neighboring provinces such as Hebei and Henan.

 

Recently, the topic of "Zibo barbecue" has been continuously hot, to some extent driving meat consumption. Data shows that as of April 23, the pork market price in Shandong Province was 17.95 yuan/kg ($US2.60/kg), an increase of 3.46% from the lowest point in April, and Shandong meat prices are significantly higher than neighboring provinces such as Hebei and Henan.

 

Entering late April, pork prices throughout the country have somewhat rebounded. Other data shows that pig prices in both northern and southern markets in China are rising across the board.

 

The barbecue craze has fueled the circulation of fresh pork products in Shandong Province, with the sales proportion of fresh products within the province being higher than outside it. As of April 21, the sales volume of fresh pig carcass within Shandong Province was 34,419.19 heads, while sales volume outside the province was only 19,614.38 heads, with the ratio reaching 1.75. Therefore, the "barbecue craze" has accelerated the circulation of fresh pork products within the province, simultaneously increasing consumption, which positively affects the pork price.

 

This week, the live pig market remained stable, and the spot market gradually entered the peak season for May Day holidays. Ruida Futures believe that recent statements by the National Development and Reform Commission and the Ministry of Agriculture and Rural Affairs have clearly boosted market confidence. With the market rebounding, there has been pigs to be secondary fattened. However, it should be noted that many live pigs still need to be sold with large weights. Despite secondary-fattening, it is relatively dispersed, limiting the height of the rebound in pig prices.

 

Zhuochuang Information predicts that next week, in terms of supply, the overall supply of pigs from large-scale breeding farms is sufficient, and the release of heavyweight pigs by small-scale farmers may continue until the end of the month. However, during the May Day holiday, some large-scale farms may reduce their sale volume due to vacations, and transportation may be congested, affecting the normal transportation of pigs in some areas, resulting in supply increasing first and then decreasing. In terms of demand, there will be more tourists travelling and consuming more, resulting in a certain increase in terminal consumption. After the holiday, demand may return to normal levels, with an increase and then decrease trend. Overall, it is expected that the pig market will show a trend of first falling and then rising in the coming week, with the price running between 14.20-14.75 yuan/kg ($US2.05-2.13/kg). (1CNY=0.15USD)