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.
Hog prices rebounded strongly over the recent week. As the costs of farming, particularly those of feed, continued to rise, hog farmers stood firm on prices even as release volumes expanded. Demand wise, consumers in several cities stocked pork in panic amid fears of sudden lockdown. In Guangdong, for instance, hog pri ...
Hog releases decreased prominently, hence supporting prices to move higher. However, overall demand for pork was hampered by the covid situation in China, particularly in Shanghai where drastic lockdown measures crushed weekly pork slaughter volumes by 53% to a mere 620 tonnes.
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