SunSirs: China Pig Prices were relatively Strong Last Week
March 27 2024 15:16:28 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic and international prices of Sanyuan live pigs continued to be strong last week, with an average price of 14.52 RMB/kg at the beginning of the week and 14.78 RMB/kg at the end of the week, an increase of 1.79% during the week.
Entering mid March, the supply-demand game in the domestic pig market continues to intensify, and the sustained weakness of pig prices has led to a stronger mentality among breeding entities to be reluctant to sell and raise prices. The overall supply of the domestic pig market is tight, and the difficulty of purchasing by slaughtering enterprises continues to increase. With the support of price increases and replenishment, the domestic pig market prices continue to be strong.
Last week, domestic corn prices fluctuated strongly, falling by 0.18% during the week, while soybean meal prices continued to rise, rising by 3.18% during the week. Overall, the cost of breeding and feeding has stopped falling and rebounded. This week, the overall domestic pig to grain ratio has rebounded to around 6.2:1, and the breeding industry has entered a micro profit situation. The continuous rise in soybean meal prices will to some extent compress the profit space of breeding, and the overall market of pig breeding is still at a low level.
SunSirs pig product analystbelieves that in the short term, with the support of temporary tight supply, the domestic pig market prices are slightly stronger. Overall, the demand for terminal meat market continues to be sluggish, and the pig inventory is relatively sufficient. The supply in the future pig market is still in a loose situation, and the overall space for pig prices to continue to rise is limited.
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