February 04, 2021

China Hog: Prices dip 7% in three weeks (week ended Feb 1, 2021)

Hog producers cleared inventories as the Chinese New Year holidays approached. Meanwhile, slaughterhouses were cautious in stock input as pork demand waned in several regions due to lockdowns resulting from the aggravating coronavirus pandemic. Falling for the third week, hog prices slid 7% accumulatively.

On average, hog prices decreased 1.8% to RMB36.51/kg over the week.

Hog farms will be keen to release animals before the festive holidays in anticipation of weak prices after the long break. With demand limited as slaughterhouses are prudent, prices of hog will be under pressure.

Full version of the report will be available at: https://spoutinfo.com/market-forecast-detail/30/32/277/2896

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