SunSirs: China Pig Prices slightly Rebounded Last Week (January 22-26)
January 29 2024 15:27:13 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic and international prices of three RMB live pigs continued to rise last week, with an average price of 14.28 RMB/kg at the beginning of the week and 14.68 RMB/kg at the end of the week, an increase of 2.80% during the week.
In late January, the demand for New Year pigs in the domestic pig market has started, coupled with the continued support of farmers who are reluctant to sell and raise prices, slaughterhouses have continuously raised the purchase price of pigs to ensure market supply, driving the domestic pig market price to continue to rise.
Last week, domestic corn prices continued to be weak, falling by 2.04% within the week, while soybean meal prices stopped falling and rebounded, rising by 0.28% within the week. Overall, domestic breeding and feeding costs continued to decline, and pig prices continued to rise. The domestic pig to grain ratio quickly rebounded to around 6.3:1, and the breeding industry as a whole turned losses into profits.
SunSirs Pig Product Analyst believes that with the support of the rebound in demand for meat at the end of the year, the domestic pig market prices will continue to remain stable, moderate, and strong in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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