July 31, 2019
China Hog: Strong price rebound defies import surge, lifts profits
An eFeedLink Exclusive
PRICES: Rising 7.73% or RMB1.18/kg, average hog prices went from May's RMB15.27/kg to RMB16.45/kg. This was 46.09% higher than in June 2018, when live hogs cost RMB11.26/kg.
Even hog markets are traditionally soft during summer, pork's price defied a 7.3% surge in May import volumes (which would mostly be released for sale during June) to 18,750 tonnes to rise nearly 8% in June.
PIGLETS: June's average piglet price rose by RMB1/kg or 2.33% to RMB44/kg, from RMB43/kg in May. Compared with June 2018, when piglets cost RMB27.69/kg, prices were higher by 58.90%...
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