February 7, 2024
China Hog: Price strengthen 16% in three weeks on amid pre-festive buying (week ended Feb 5, 2024)
With the support of strong pre-Chinese New Year sales, hog prices surged for the third consecutive week. Over the past three weeks, hg prices have increased tremendously by 16%. Year-on-year, hog prices were higher by 14%.
Compared with a week ago, pork slaughter volume increased 4.6% to 11,223 tonnes while pork carcass prices strengthened 6.5% to RMB21.45/kg.
On average, hog prices surged 9.1% to RMB16.05/kg, from RMB14.72/kg over the past week. Compared with a year ago, prices were higher by 14%.
Sales of pork are set to slow with the Chinese New Year holidays approaching. The upward scope of hog market will be limited in the coming period.
Full version of the report will be available at: https://spoutinfo.com/market-forecast-detail/30/32/281/5163
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