SunSirs: China Pig Prices Fluctuated weakly Last week (September 4-8)
September 11 2023 14:00:53 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic and international prices of three RMB live pigs fluctuated and fell last week, with an average price of 16.80 RMB/kg at the beginning of the week and 16.77 RMB/kg at the end of the week, a decrease of 0.18% during the week.
In September, due to the continuous downturn in terminal demand, slaughtering companies have a clear intention to purchase at a lower price. The domestic pig market prices have ended the nearly three week consolidation situation, and the overall pressure on pig prices has slightly decreased. On September 8th, the average price was 16.77 RMB/kg, a decrease of 1.81% compared to the end of August.
Last week, domestic corn prices stabilized at a high level, rising by 0.10% during the week, while soybean meal prices rose and fell slightly. Overall, domestic breeding and feeding costs are still at a high level, and piglet prices are relatively stable. Continued high breeding costs will continue to provide strong support for the bottom of pig prices in the future.
SunSirs pig products analyst believes that the market supply and demand game is constantly intensifying, and terminal demand is less than expected. In the short term, pig prices will continue to operate at a stable, moderate, and weak level at the current level.
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