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05

2022

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10

China's Beef and Mutton Wholesale Prices in Sept

Source:

OIG+X

According to the data from MARA, China’s beef wholesale prices in Sept fluctuated from 10.93 $/kg to 11.15 $/kg. The beef average price is 11.04 $/kg (77.27 yuan/kg), slightly decreased than 11.43 $/kg (76.55 yuan/kg) YoY. China’s mutton wholesale prices in Sept fluctuated from 9.49 $/kg to 9.70 $/kg. The mutton's average price is 9.63 $/kg (67.40 yuan/kg), dropping almost 3 yuan from last year of 10.52 $/kg (70.46 yuan/kg). It can be seen from the data that the beef wholesale market sees a similar situation to last year while the mutton wholesale price dropped a lot this year.


Note*: The following prices are close to retail prices in China, rather than the prices for domestic slaughterhouses. USD to CNY exchange rate is 7.

 

According to the data from MARA, China’s beef wholesale prices in Sept fluctuated from 10.93 $/kg to 11.15 $/kg. The beef average price is 11.04 $/kg (77.27 yuan/kg), slightly decreased than 11.43 $/kg (76.55 yuan/kg) YoY. China’s mutton wholesale prices in Sept fluctuated from 9.49 $/kg to 9.70 $/kg. The mutton's average price is 9.63 $/kg (67.40 yuan/kg), dropping almost 3 yuan from last year of 10.52 $/kg (70.46 yuan/kg). It can be seen from the data that the beef wholesale market sees a similar situation to last year while the mutton wholesale price dropped a lot this year.

 

After Sept, most of the catering industry resumed business, and the peak tourism season is coming. Driven by the "double festival" effect of the Mid Autumn Festival and the National Day, beef is in great demand. Therefore, before the National Day holiday, the price of beef rose in a wave. In the futures and spot markets, the price of imported beef has been declining since the beginning of Sept which is more volatile than that in the wholesale market.

 

From the perspective of supply, the national beef production has recovered steadily, cattle breeding has increased, and the supply is expected to be guaranteed in the later period; after Sept, when the cattle enter the peak season for sale, the capacity of slaughter and processing enterprises will increase, which will more effectively ensure the supply of beef in the market.