May 10, 2021
China Hog: Soft pre-festive demand weakens market (week ended May 3, 2021)
During the week before May Day holidays, demand for hog was weaker than expected as slaughterhouses gradually halted operation. Prices softened with hog availability expanding.
Slaughter volumes in major wholesale centres increased 1.17% to 7,329 tonnes while pork carcass prices slid 2.5% to RMB29.65/kg.
Hog prices dropped 3,7% over the past week to RMB23.07/kg, from RMB23.94/kg.
Hog market is poised to remain weak in the near term. However, with the costs of feed staying high, farmers will attempt to stand firm.
Full version of the report will be available at: https://spoutinfo.com/market-forecast-detail/30/32/277/3250
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