SunSirs: Live pig price shocks down in March

1. Price Trend

According to the monitoring of SunSirs, the overall price of domestic and foreign ternary pigs fluctuated downward in March. The average price on March 1 was 35.60 yuan/kg, and the average price on March 31 was 34.83 yuan/kg, down 2.16%.

2. Market Analysis

In March, the domestic pig transportation pressure gradually eased, and the frozen meat from the state reserve was successively out of the warehouse to supplement the market supply. Therefore, the tight supply situation in the pig market has eased. The overall demand for the terminal meat market is relatively sluggish. Due to the slow sales progress, the slaughterhouse continues to slightly reduce the purchase price of live pigs and the domestic live pig market price as a whole fluctuates slightly and fluctuates downward.

Pork prices continue to fall. The slaughter pigs have been released one after another, which has led to a rebound in the pig market supply. After the replenishment of slaughterhouse live pig stocks, prices were reduced again, and the domestic live pig market price continued to adjust weakly.

The overall domestic corn price rose slightly by 0.69% in March, the price of soybean meal increased by 15.12%, and the cost of breeding and feeding increased sharply year-on-year. In addition, the current price of piglets has continued to rise, and the cost of breeding has risen again. The continued increase in costs will play a role in the market price of pigs support. Affected by the current decline in domestic profit margins, farmers' enthusiasm will decline.

3. Market Forecast

SunSirs live pig product analyst Wenxu Li believes: under many negative pressures, pig prices will continue to weaken in the short term. Taken together, the domestic pig population is still at a low level. Coupled with the continued rise in costs, it is expected that there will be limited room for lowering pig prices. It is expected that the domestic live pig market price in April will fluctuate slightly around 34.00 yuan/kg.

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.