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Market Reports

August 23, 2017
 
Erratic prices seen in Vietnam's July live hog market
 
An eFeedLink Exclusive
 
 
Price summary
 
After climbing to a peak in the second week of July, live hog prices fell.
 

Procurement price of live hog over 80kg  (Expressed in VND1,000/kg)

 

W1

W2

W3

W4

Dong Nai

28000

43000

37000

36000

Binh Duong

27000

41000

36000

35000

Can Tho

26000

41000

36000

36000

HCM

28000

42000

35500

35000

Hanoi

25000

41000

35000

35000

(VND1,000 = US$0.044 as of July)

 
 
Market analysis
 
Violent price swings in July caused the Vietnamese hog industry, particularly farmers, to suffer some losses. In the first two weeks of July, hog prices in several localities across the country suddenly rose sharply, from VND25,000 (US$ 1.10) per kilogram up to a high of VND 45,000 (US$ 1.98). The temporary lack of supply was partially due to Chinese re-importing, and at the same time, there were reports of some pig farms speculating and holding on to their inventory.
 
Specifically in Dong Nai, prices were up significantly from VND28,000 (US$1.23) to VND43,000 (US$1.89) per kilogram, as of July 15. Afterwards, prices were down to VND36,000 (US$1.58) per kilogram.
 
The surge in live hog prices was also accompanied by a rise in the prices of piglets and breeders. Piglet price in Dong Nai hit VND7 million (US$308), compared to the usual VND5.5 million (US$242). Breeder price for under 20 kilograms surged to VND1 million (US$44), compared to its typical VND600,000 (US$26).
 
As of July, the pig herd size in Vietnam was estimated be reduced by 3.3% compared to the same period last year.
 

Market forecast
 
Experts recommend farmers to consider expanding their business as supply is still generally sufficient with some room for growth. It is expected that the market will remain stable from now till the Tet holiday in 2018.
 


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