SunSirs: Live Pig Prices in China continued to Fall Last Week
November 16 2022 08:30:13 SunSirs (Selena)
According to the monitoring of SunSirs, the domestic and foreign three yuan pig prices continued to fall last week, with the average price of 26.30 RMB/kg at the beginning of the week and 25.47 RMB/kg at the weekend, down 3.16% within the week.
In November, the demand of the terminal meat market was still sluggish. The continuous decline in pig prices prompted farmers to actively sell pigs for cash. The continuous sale of pigs increased the supply pressure of the domestic pig market. The problem of strong market supply and weak demand was highlighted, and the domestic pig price continued to decline.
Last week, the domestic corn price rose by 0.36%, the soybean meal price continued to rise by 1.00%, the breeding and feeding cost continued to rise at a high level, the piglet price remained at a high level, and the continuous rise of the breeding cost will form a strong bottom support for the domestic pig price in the future.
SunSirs analyst of live pig products from SunSirs, believes that: at present, there is no substantial positive support for the recovery of terminal meat demand, and the farmers' intention to sell remains unchanged. The problem of strong supply and weak demand in the live pig market cannot be alleviated in the short term. There is still some room for pig prices to fall in the future. Supported by the continued high breeding costs, there is limited space for live pig prices to continue to fall in China.
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