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September 29, 2016

 

China Live Hog Weekly: Unusually weak pork demand drags down prices (week ended Sep 22, 2016)

 

An eFeedLink Exclusive

     
 

Price summary

 

Prices continued to fall.
 
 

Region

Province

Lowest price this week

Highest price this week

Average price this week

Lowest price last week

Highest price last week

Average price last week

Changes

North China

Hebei

17.40

17.70

17.51

17.70

17.90

17.78

-0.27

Henan

17.80

18.00

17.91

17.90

18.20

18.06

-0.15

East China

Shandong

17.50

17.90

17.67

17.70

18.00

17.83

-0.16

Jiangsu

18.00

18.50

18.33

18.10

18.90

18.46

-0.13

Central China

Hunan

18.30

19.20

18.67

18.60

19.40

18.92

-0.25

South China

Guangxi

18.40

19.00

18.64

18.60

19.40

18.92

-0.28

Guangdong

18.10

19.40

18.81

18.60

19.90

19.27

-0.46

Southwest China

Sichuan

18.90

19.10

18.96

19.00

19.30

19.13

-0.17

(All prices in RMB/kg)
RMB1=US$0.1499 (Sep 22)
                                                             

 


Market analysis

 

Traditionally, pork demand is strong in the period leading to the long October holidays. However, this year, sales were poor with demand over 9% lower compared with a year ago. Hog prices continued to fall for the second week, down by 1.2%.

 

Meanwhile, pork carcass volumes decreased 5% to 8,108 tonnes compared with the previous week, while prices slid 0.63% to RMB23.64/kg.

 
 

Market forecast                                                          

 

Pork demand is unlikely to increase significantly as consumers cut expenses while China's economy remains sluggish. Moreover, hog farmers are likely to increase releases fearing that prices will fall prominently entering October. With demand lukewarm and supplies ample, prices of hog will be under pressure.


eFeedLink offers monthly China hog and poultry market trackers, including analyses and on-the-ground information from Guangxi, Guangdong, Hunan, Hubei, Sichuan, Jiangsu, Henan, Shandong, Hebei and the whole of China. These provinces cover at least 70% of the total hog, poultry and related feed production or consumption in China. For more information, visit:
 
http://www.efeedlink.com/eFLResearch


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