April 14, 2022

China Hog: Prices strengthen despite tumbling demand (week ended Apr 11, 2022)
 

An eFeedLink Exclusive

Hog releases decreased prominently, hence supporting prices to move higher. However, overall demand for pork was hampered by the covid situation in China, particularly in Shanghai where drastic lockdown measures crushed weekly pork slaughter volumes by 53% to a mere 620 tonnes.

Slaughter volumes in major wholesale centres plunged 16.3% to 7,020 tonnes while pork carcass prices increased 1.5% to RMB18.18/kg.

On average, hog prices increased 1.5% to RMB12.62/kg, from RMB12.81/kg. Climbing for three consecutive week, hog prices strengthened have 7%.

Worsening covid situation in China is expected to curtail the sales of pork, hence limiting the upward scope of hog market.

Full version of the report will be available at: https://spoutinfo.com/market-forecast-detail/30/32/277/4044         

All rights reserved. No part of the report may be reproduced without permission from eFeedLink.