SunSirs: Strong Supply and Weak Demand, Pig Prices Fell sharply in China in November

According to the monitoring of SunSirs, the price of domestic and foreign three yuan pigs fell sharply in November, with the average price of 26.77 RMB/kg on November 1 and 23.03 RMB/kg on November 30. The price continued to fall sharply in the month, with an overall decline of 13.97%.

Since late October, slaughter enterprises have slightly lowered the purchase price of live pigs after completing the acquisition task. The pig market has surged and fallen. In addition, the demand of the terminal meat market is still sluggish. The decline of the pig price has induced farmers to further cash out. A large number of farmers have sold off, which has increased the supply pressure of the terminal pig market. Under the pressure of many bad things, the domestic pig price has further declined in November, On November 30, the domestic pig price fell to 23.03 RMB/kg as a whole, down 13.97% in the month and 16.95% lower than the peak of the year (27.73 RMB/kg on October 21).

In November, the domestic corn price rose by 2.40%, while in November, the domestic soybean meal price fell by 8.22%. In a word, the overall breeding and feeding cost is still at a high level. In addition, the breeding profit space remains at a high level, and the enthusiasm of farmers to supplement the fence continues to support the continuous high price of piglets. The continuous high breeding cost will provide strong support for the future domestic pig market price.

SunSirs live pig products analyst believes that the problem of strong market supply and weak demand cannot be alleviated in the short term. In the short term, the pig price will continue to be weak. At the same time, the continuous high breeding cost will support the future pig price to some extent. The overall decline space of the pig price is limited. It is expected that the overall China domestic pig market price will move forward slightly in November near 23.00 RMB/kg.

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