June 15, 2022
China Hog: Market cools after 35% rally (week ended Jun 13, 2022)
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Hog prices softened, albeit marginally, cooling the rally that sent prices higher by 35% since March. As supplies of hog remained tight while the costs of production stayed high, farmers stood firm on prices even as demand for pork was softer compared with previous years.
Slaughter volumes in major wholesale centres shrank by 0.33% to 7,275 tonnes while pork carcass prices edged down 0.14% to RMB21.10/kg.
On average, hog prices inched lower 0.34% to RMB16.16/kg, from RMB16.21/kg.
With slaughterhouses treading prudently, prices of hog are projected to consolidate around current levels in the near term. Nonetheless, limited quantity of finishing hog will lend support to the market.
Full version of the report will be available at https://spoutinfo.com/market-forecast-detail/30/32/277/4174
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