February 7, 2019
China Live Hog Weekly: Prices plunge 18% in January (week ended Feb 1, 2019)
An eFeedLink Exclusive
Price summary
Prices dipped further.
Region |
Province |
Average price |
Average price |
Price change |
North China |
Hebei |
10.06 |
10.19 |
-0.13 |
Henan |
10.45 |
10.30 |
0.15 | |
East China |
Shandong |
11.41 |
11.84 |
-0.43 |
Jiangsu |
12.05 |
12.13 |
-0.08 | |
Central China |
Hunan |
10.37 |
10.33 |
0.04 |
South China |
Guangxi |
11.08 |
11.74 |
-0.66 |
Guangdong |
11.83 |
11.81 |
0.02 | |
Southwest China |
Sichuan |
14.84 |
15.79 |
-0.95 |
(All prices in RMB/kg) |
Market analysis
Hog slaughter volumes continued to expand as farmers rushed to clear stocks in anticipation of a poor post-Chinese New Year market. Pork carcass volumes expanded substantially by 5.86% as a result to 10,826 tonnes, hence dragging the average price down by 2.88% to RMB17.29/kg.
Over the week, hog prices dropped another 2.2%, contributing to January's 18% plummet.
Market forecast
The quantity of finishing hog will be greatly diminished after the festive break due to expedited releases during January. Nevertheless, hog market is expected to remain soft despite low availability as the rampant spreading of African swine fever shatters pork demand.
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