May 4, 2022
 

China Hog: Price approaches yearly high amid strong surge (week ended Apr 25, 2022)

 
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Hog prices rebounded strongly over the recent week. As the costs of farming, particularly those of feed, continued to rise, hog farmers stood firm on prices even as release volumes expanded. Demand wise, consumers in several cities stocked pork in panic amid fears of sudden lockdown. In Guangdong, for instance, hog prices jumped from RMB13.70/kg in the previous week to RMB16/kg.

Slaughter volumes in major wholesale centres increased 2.8% to 7,352 tonnes while pork carcass prices strengthened 1.7% to RMB18.14/kg.

On average, hog prices surged 12.8% to RMB12.74/kg, from RMB14.38/kg， approaching January's yearly high levels.

Surging hog farming expenses will lend support to the hog market. As lockdown measures disrupt pork imports and slaughterhouse operation, while Chinese citizens are keen to stock food amid panic, hog prices are likely to climb further.

Full version of the report will be available at: https://spoutinfo.com/market-forecast-detail/30/32/277/4085         

 
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