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SunSirs: Live Pig Prices Continued to Rise This Week (June 20-24)
June 27 2022 14:00:31SunSirs(John)

Price trend

According to the monitoring of SunSirs, the price of ternary live pigs at home and abroad continued to rise this week. The average price at the beginning of the week was 16.23 RMB/kg, and the average price at the weekend was 16.83 RMB/kg, up 3.70% during the week.

Analysis review

This week, the thirteenth batch of national storage frozen meat was purchased and stored, and the policy continued to ensure supply and stabilized prices. The attitude of farmers to be reluctant to sell and support prices became stronger. Coupled with the rain in many places, the overall release of live pigs was limited, the domestic live pig market supply declined, and slaughtering companies in some areas raised prices to replenish stocks. Under the support of many favorable conditions, the domestic pig price rebounded in an all-round way. The average price on June 24 was 16.83 RMB/kg, an increase of 7.88% from the beginning of the month.

This week, domestic corn prices were running slightly stronger at high levels, up 0.25% during the week. Domestic soybean meal prices fell weakly, down 3.43% within the week. On the whole, the domestic feed cost is still high, and the feed cost will form a certain bottom support for the future pig price. The continuous rise in pig prices has made the domestic pig farming as a whole gradually enter the profit space, and the enthusiasm of farmers to supplement the stall continues to rise.

Market outlook

An analyst of live pig products from SunSirs believes that: the market has strong bullish expectations, and under the support of many positive factors, there is still some room for upside in the domestic live pig market price in the short term.

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