February 7, 2019
China Broiler Weekly: Markets weaken before closing for Chinese New Year holidays (week ended Feb 1, 2019)
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Prices softened lately.
With slaughterhouses slowly halting operation, demand for AA broiler dwindled, hence dragging prices to fall another 4% over the week. During January, AA broiler prices tumbled 9% accumulatively.
Nevertheless, chick prices jumped a whopping RMB1.30-2/chick to RMB7-7.20/chick as supplies tightened.
China breed broiler
Prices of fast-growth native broiler plunged 7% while demand shrank prominently. Chick prices dipped RMB0.50/chick to RMB1.80/chick as farmers were reluctant to expand inventories.
Hybrid broiler market was weak, seeing prices drop RMB0.30-0.30/kg to settle in the range of RMB6.90-7.30/kg. Nonetheless, chick prices, which had little scope to move lower, remained stable.
After the long Chinese New Year holidays, broiler markets are expected to remain weak due to poor post-festive demand.
AA chick prices are, however, set to remain firm as hatcheries limit production.
RMB=US$0.1483 (Feb 7)
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