China Broiler Weekly: Sluggish chicken demand curtails broiler sales (week ended Sep 21, 2016)
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Prices weakened further.
Falling for the consecutive sixth week amid ample availability and slack pre-festive demand, AA broiler prices inched lower 0.23% during the period in review.
Chick prices remained soft as broiler farmers were prudent in building flock inventories.
China breed broiler prices weakened as well over the week at a faster pace of 1.3%. Buying interest was soft as consumers limited expenses while the economic outlook remained bleak.
Chick prices were stable but lacked momentum to strengthen further.
Sales of chicken products may increase one week before the long October holidays but is unlikely to be exceptionally strong as consumers stay prudent. Moreover, supplies are abundant, hence limiting the upward scope of the market. Broiler prices are therefore expected to increase marginally at best.
RMB=US$0.1500 (Sep 30)
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