May 13, 2022
 

China Hog: Prices surge 19% in three weeks (week ended May 9, 2022)

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Hog prices increased for the third week, albeit at a much slower pace as supplies shrank. Demand for pork was soft, nevertheless, hence putting a lid on hog prices.

Over the past three weeks, hog prices have surged 19%. Current prices are 5% away from early January's highest point in 2022.

Slaughter volumes in major wholesale centres tumbled 9% to 6,935 tonnes while pork carcass prices increased 1.76% to RMB19.76/kg.

On average, hog prices inched higher 0.43% to RMB15.13/kg, from RMB15.07/kg， approaching January's yearly high levels.

Tight availability, in conjunction with high farming costs, will hold hog prices firm despite soft demand for pork due to stringent covid lockdown measures.

Full version of the report will be available at https://spoutinfo.com/market-forecast-detail/30/32/277/4114