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SunSirs: China's Domestic Live Pig Prices Continued to Weaken Last Week (10.12-10.16)

October 20 2020 08:00:11     SunSirs (Linda)

1. Domestic pig price trends

According to SunSirs monitoring, the price of Sanyuan (hybridization among 3 breeds of pigs) live pigs at home and abroad continued to be weak this week, with an average price of 31.53 yuan/kg at the beginning of the week and an average price of 30.42 yuan/kg at the weekend, a drop of 3.52% during the week.

2. Market Analysis

After the two festivals, the domestic meat market demand remained sluggish, coupled with the continuous recovery of domestic pig stocks, the willingness of stock farmers to sell pigs remained undiminished, the problem of strong supply and weak demand in the post-holiday market was highlighted, and domestic pig prices continued to fall under pressure. On October 16, the average price of domestic and foreign Sanyuan (hybridization among 3 breeds of pigs) live pigs was 30.42 yuan/kg, down 7.73% from the beginning of the month.

Last week, domestic corn prices rose again, rising by 0.99% during the week, and soybean meal prices fell slightly by 0.83% from the high level. Overall, the overall cost of breeding and feeding is still increasing, and the profit margin of breeding continues to shrink. In the future, farmers are more enthusiastic Fall back.

3. Outlook

SunSirs pig product analysts believe that there is no substantial positive support in the short term. The strong supply and demand of pig prices will be difficult to alleviate, and there is still room for pig prices to fall.

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