SunSirs: The Price of Live Pigs was Weak in China Last Week (January 1-5)
January 09 2024 14:49:25 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic and international prices of three RMB live pigs remained stable and weak this week, with an average price of 14.42 RMB/kg at the beginning of the week and 14.30 RMB/kg at the end of the week, a decrease of 0.83% during the week.
After New Year's Day, the demand in the terminal meat market remains sluggish, and the output of live pigs remains stable. The problem of strong supply and weak demand in the domestic meat market still exists, and the overall price of pigs continues to be under pressure, stable, and weak.
Last week, the domestic corn price weakened and stabilized before moving forward with a slight fluctuation. The price of soybean meal fluctuated weakly and fell by 2.88% during the week. Overall, the cost of breeding and feeding continues to decline. On January 5th, the domestic pig to grain ratio was 5.7:1, and the overall pig breeding industry is still in a loss situation.
According to analysts of SunSirs's live pig products, pig prices continue to be weak, and farmers are not willing to sell their pigs. As the end of the year approaches, the demand for terminal meat in the market has not improved, and there is still pressure from strong supply and weak demand in the market. In the short term, pig prices will continue to operate under pressure.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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