SunSirs: The Pig Prices stabilized in China Last Week (August 7-11)
August 14 2023 14:58:25 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, last week the domestic and international prices of three yuan live pigs fluctuated and stabilized, with an average price of 17.00 RMB/kg at the beginning of the week and 17.12 RMB/kg at the end of the week, with a weekly increase of 0.71%.
Entering August, the hot and rainy weather has eased, coupled with a rapid and significant increase in pig prices. Farmers' intention to sell and monetize has increased. After the rapid increase in pig prices, the end market did not buy them, and the demand for meat in the market has become weaker. Slaughtering enterprises are generally cautious in purchasing, and their intention to buy at a lower price is obvious. Last week, the overall increase in domestic pig prices stabilized, but they moved forward with a slight fluctuation.
Last week, domestic corn prices were relatively high and strong, with an increase of 0.82% during the week. Soybean meal prices continued to rise, with an increase of 2.09% during the week. The high and strong cost of breeding and feeding will provide strong support for the bottom of future pig prices.
SunSIrs pig product analyst believes that after the temporary supply shortage situation is alleviated, there is insufficient momentum for pig prices to continue to rise, and the market supply and demand game is still fierce. In the short term, the overall domestic pig prices will be fluctuated around 17 RMB/kg.
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