July 12, 2022
China Hog: Prices surge 43% in four weeks (week ended Jul 11, 2022)
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Slaughter volumes shrank further amid shortages of finishing hog. Had China government not acted to supress prices, price surge would have been even more tremendous.
Falling for four weeks, hog prices have increased tremendously by a whopping 43%
Compared with a year ago, weekly hog slaughter volume shrank further by 0.93%.
Slaughter volumes in major wholesale centres diminished further by 0.93% to 7,104 tonnes while pork carcass prices surged 19% to RMB28.47/kg.
On average, hog prices continued to rise by 15.5% to RMB23.36/kg, from RMB20/kg. Compared with the same period in 2021, hog prices were higher by 53%.
China government will attempt to stabilise hog prices in the coming weeks. Nonetheless, prices are likely to rise further amid severe hog shortages.
Full version of the report will be available at https://spoutinfo.com/market-forecast-detail/30/32/277/4240
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