SunSirsChina Live Pigs Price Fluctuated strongly Last Week (March 11-15)
March 19 2024 16:38:32 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic and international prices of three RMB live pigs fluctuated strongly last week, with an average price of 14.42 RMB/kg at the beginning of the week and 14.50 RMB/kg at the end of the week, an increase of 0.55% during the week.
Entering mid March, the continuous low operation of domestic pig prices has led to farmers being reluctant to sell and raising prices. The supply-demand game in the domestic pig market continues to intensify, and with the support of temporary tight supply in the pig market, the overall price of the domestic pig market has slightly rebounded. However, due to the continued sluggish demand in the terminal meat market, the overall upward momentum is insufficient, and pig prices are fluctuating and moving forward.
Last week, domestic corn prices fluctuated slightly, falling by 0.12% within the week. Soybean meal prices fluctuated weakly, falling by 0.11% within the week. The overall cost of breeding is still at a low level. Currently, the domestic pig to grain ratio has rebounded to around 6.2:1, and the overall pig breeding industry is in a low profit situation.
SunSirs pig product analyst believes that farmers are reluctant to sell at high prices, terminal demand continues to be sluggish, and the cost of breeding and feeding remains low. There is a long short game, and in the short term, there is insufficient momentum for the domestic pig market price to continue to rise. Overall, it will continue to operate at the current level with slight consolidation.
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