August 30, 2018
China Live Hog Weekly: Cautious mood slows buying (week ended Aug 24, 2018)
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Hog releases remained limited, dragging pork carcass volumes down by 0.25% to 7,667 tonnes. As the demand for local pork remained firm, prices of pork carcass increased 1.44% to RMB19.04/kg.
Nonetheless, with hog disease rates on the rise, slaughterhouses in some regions limited purchases amid concerns that pork consumption might dwindle. On average, weekly hog price inched lower by 0.17%.
Concerns over rising infection rate, particularly that of African swine fever, will result in more cautious buying. However, with supply fundamentally insufficient and Mid-autumn Festival approaching, hog market is expected to move higher despite the prudent mood.
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