SunSirs: China Pig Prices Continued to be Weak Last Week (September 18-22)
September 26 2023 15:01:44 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic and international prices of three RMB live pigs continued to be weak last week, with an average price of 16.48 RMB/kg at the beginning of the week and 16.27 RMB/kg at the end of the week, a decrease of 1.27% during the week.
Although the domestic weather has turned colder, the overall demand for terminal meat has not been as expected. The upcoming dual festival consumption has limited overall support for pig prices. In the early stage, pigs under pressure have gradually been sold and entered the market. Slaughtering enterprises continue to purchase at lower prices after completing the acquisition task. The problem of strong supply and weak demand in the pig market remains, and pig prices continue to operate weakly.
Last week, the domestic corn price slightly decreased from its high point, with a decrease of 0.35% during the week. The soybean meal price also fell from its high point, with a decrease of 3.88% during the week. Overall, although private use costs have slightly decreased, they are still at a super high level. The sustained high cost of breeding and feeding will provide strong support for the bottom of future pig prices.
SunSirs Pig Product Analysts believe that there is still some room for domestic pig prices to fall in the short term under strong supply and weak demand pressures.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-23 SunSirs: China Domestic Pig Prices Fluctuated and Moved Forward Last Week (April 15-19)
- 2024-04-16 SunSirs: China Domestic Pig Prices Fluctuated and Moved forward Last Week (April 8-12)
- 2024-04-03 SunSirs: China Pig Prices Continue to Fluctuate and Rise in March
- 2024-03-27 SunSirs: China Pig Prices were relatively Strong Last Week
- 2024-03-19 SunSirsChina Live Pigs Price Fluctuated strongly Last Week (March 11-15)
