SunSirs: China Pig Prices Continued to be Weak Last Week (December 4-8)
December 12 2023 15:41:23 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 14.30 RMB/kg at the beginning of the week and 13.97 RMB/kg at the end of the week, a decrease of 2.31% during the week.
Entering December, the demand in the terminal meat market continued to be sluggish, and pig prices remained weak. Farmers did not reduce their intention to sell their pigs for cash. In addition, the recent increase in large-scale farming has highlighted the pressure of strong supply and weak demand in the domestic pig market, and the overall pressure on domestic pig prices has continued to be weak and downward.
Last week, domestic corn prices continued to be weak, falling by 1.01% during the week, while soybean meal prices bottomed out and rebounded slightly, rising by 1.85% during the week. Overall, the cost of breeding and feeding is still showing a downward trend, and pig prices continue to be weak. This week, the domestic pig to grain ratio fell to around 5.4:1, and the loss area of the breeding industry continues to increase.
SunSirs pig product analyst believes that the problem of strong supply and weak demand in the pig market is difficult to alleviate in the short term, and pig prices will continue to operate under pressure.
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