SunSirs: China Pig Prices Weakened Last Week (September 11-15)
September 18 2023 14:09:32 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic and international prices of three RMB live pigs were weak last week, with an average price of 16.72 RMB/kg at the beginning of the week and 16.60 RMB/kg at the end of the week, a decrease of 0.72% during the week.
In mid September, the continued weak operation of pig prices has led to some regions' farmers being reluctant to sell and underpricing, resulting in overall tight supply in the domestic pig market. At the same time, due to lower than expected demand in the terminal meat market, slaughtering enterprises still have the intention to purchase at lower prices, and the price of the domestic pig market continues to be weak and consolidation.
Last week, the domestic corn price slightly decreased from its high point, with a decrease of 0.30% during the week. Soybean meal prices rose and fell, with a decrease of 1.03% during the week. Overall, the current domestic breeding and feeding costs are still at a super high level, and the sustained high feeding costs will continue to form strong support for the bottom of domestic pig prices in the future.
SunSirs pig product analyst believes that the demand in the terminal meat market is lower than expected, and farmers are reluctant to sell at high prices. The market is playing a long short game, and it is expected that in the short term, the domestic pig market prices will continue to be stable, moderate, and weak at the current level.
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