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China's Live Hog Prices Edge Down, Wholesale Pork Prices Rise Slightly in Third Week of September
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According to monitoring by China's Ministry of Agriculture and Rural Affairs across 500 county-level markets and collection points, during the third week of September (September 14-20), the national live hog price averaged 11.48 yuan per kilogram, down 0.5% week-on-week. The pork market price at fairs averaged 21.18 yuan per kilogram, down 0.2% week-on-week. However, monitoring of 200 wholesale markets showed the national average wholesale pork price was 16.40 yuan per kilogram, up 0.7% week-on-week but still 16.1% lower than the same period last year. Analysts attributed the slight decline in live hog prices to active slaughtering by farmers ahead of the Mid-Autumn Festival. Meanwhile, increased stocking by wholesalers, food processors, and catering enterprises pushed wholesale pork prices up, though overall terminal consumer demand remained weak, leading to a slight drop in retail pork market prices. The report forecasts that hog and pork prices will continue to fluctuate narrowly in the coming week.
Source report
September 21 (Cailianshe) — According to monitoring data from 500 county-level markets and collection points by the Ministry of Agriculture and Rural Affairs, during the third week of September (September 14–20, hereinafter referred to as "last week"), the national live hog price stood at 11.48 yuan/kg, down 0.5% week-on-week. The pork market price at bazaars was 21.18 yuan/kg, down 0.2% week-on-week.
Based on monitoring and dispatch from 200 wholesale markets, the average wholesale price of pork nationwide last week was 16.40 yuan/kg, up 0.7% week-on-week and 16.1% lower year-on-year.
Expert Analysis
Analysts noted that as the Mid-Autumn Festival approached last week, breeding entities actively increased hog supply, leading to a slight decline in live hog prices. Meanwhile, wholesalers, food processing companies, and catering enterprises increased stockpiling, which drove a modest rise in wholesale pork prices. However, overall consumer demand in the terminal market remained limited, resulting in a slight decline in pork prices at bazaar markets.
Outlook
Looking ahead, it is expected that live hog and pork prices will continue to fluctuate within a narrow range this week.
Source
财联社Eastern
Part of this Story
China’s live hog prices edge down 0.5% as holiday slaughtering boosts supply