SunSirs: China Pig Prices Fell again Last Week (November 6-10)
November 14 2023 10:31:18 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic and international prices of three RMB live pigs fell again last week, with an average price of 14.82 RMB/kg at the beginning of the week and 14.52 RMB/kg at the end of the week, a decrease of 2.02% during the week.
In November today, as the impact of rain and snow on transportation weakens, pigs under pressure are gradually being sold out. The demand for terminal meat market continues to be weak, and the supply of pigs in the market continues to rebound. Slaughtering companies have lowered their purchase prices again after completing the acquisition task. Under the pressure of strong market supply and weak demand, domestic pig prices have fallen again.
Last week, the overall weakness of domestic corn prices stabilized and slightly rebounded, with a slight increase of 0.11% during the week. Soybean meal prices fluctuated and declined, with a decrease of 0.46% during the week. The overall cost of breeding and feeding showed a downward trend, while pig prices continued to be weak. The domestic pig to grain ratio continued to operate at a low level, currently around 5.5:1. The breeding industry continued to suffer losses, and the enthusiasm of farmers to supplement their livestock continued to decline.
SunSirs pig product analyst at SunSirs, believes that the demand in the terminal meat market continues to be weak, and the problem of strong supply and weak demand in the pig market is difficult to alleviate in the short term. The momentum for the rebound in pig prices is insufficient, and the overall situation will continue to be under pressure, stable, and weak.
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