SunSirs: China Live Pigs Prices Continue to Fluctuate and Operate weakly after the National Day Holiday

According to the Commodity Market Analysis System of SunSirs, the domestic and international prices of three RMB live pigs continued to decline weakly after the National Day holiday. They stopped falling and slightly rebounded this weekend, with an average price of 16.13 RMB/kg on October 6th and 15.57 RMB/kg on October 13th. After the holiday, the overall price dropped by 3.47%.

During the National Day holiday, the overall demand in the domestic terminal meat market was average, and the game between supply and demand in the market continued to intensify. After the holiday, pigs under pressure were gradually released, highlighting the problem of strong supply and weak demand in the domestic pig market, and the pressure on pig prices was weak and declining.

After the holiday, the prices of domestic corn and soybean meal have fallen comprehensively. As of October 13th, the domestic corn price fell by 2.66% during the month, while the price of soybean meal fell by 6.13% during the month. The cost of breeding and feeding has also decreased. Currently, the overall pig to grain ratio in China is fluctuating around 5.8:1, and the pig breeding industry is still in a small loss situation. The enthusiasm of farmers to supplement their livestock has continued to decline.

SunSirs pig product analyst believes that overall, the current cost of breeding and feeding is still high, and costs will provide strong support for the bottom of pig prices. The overall situation of the breeding industry continues to be in a small loss situation, and farmers are reluctant to sell and support prices. In addition, the overall trend of meat consumption in the fourth quarter is strong, and it is expected that there will be limited room for further decline in pig prices in the future. After the overall decline stabilizes, it will move forward with small fluctuations at the current level.

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