Chinese pig prices fall to new record low

The price of live pigs today, December 9, in the North increased slightly by 1,000 VND/kg in some places, ranging from 48,000 - 50,000 VND/kg. In the Chinese market, the price of live pigs is plummeting due to the rapid increase in pork supply while demand remains normal.

Pig price today December 9: Chinese pig price drops to new record low. (Source: Meat Deli)

Pig price today December 9

* The live pig market in the North increased slightly by 1,000 VND/kg in some places.

Specifically, the provinces and cities of Yen Bai , Hung Yen and Hanoi all adjusted the transaction price to the same level of 50,000 VND/kg.

Similarly, the two provinces of Phu Tho and Vinh Phuc both increased to 49,000 VND/kg.

Pig price today in the North is around 48,000 - 50,000 VND/kg.

* Pig prices in the Central and Central Highlands regions decreased slightly.

Accordingly, live pigs in Quang Tri, Binh Dinh and Quang Nam are being purchased at a price of around 47,000 - 48,000 VND/kg after a decrease of 1,000 VND/kg, depending on the region.

The remaining localities have unchanged prices.

Currently, the price of live pigs in the Central and Central Highlands regions is around 47,000 - 49,000 VND/kg.

* In the Southern region, pig prices have not changed much.

Currently, traders in most provinces and cities are purchasing live pigs at an average price of around 48,000 VND/kg.

In Kien Giang province alone, the price increased slightly by VND 1,000/kg to VND 50,000/kg.

Pig price in the Southern region today fluctuates between 47,000 - 51,000 VND/kg.

* Pork prices in the Chinese market are plummeting due to the rapid increase in pork supply while demand remains normal.

The price of live hog futures for January 2024 on the Dalian Commodity Exchange (DCE, China) in the session on December 5 decreased by 4% to 13,480 yuan/ton (1,886 USD/ton) - establishing the fourth consecutive session of decrease.

The price has also fallen 10.1% over the past week and 37% since the beginning of the year, to a new record low not seen since the commodity began trading.

Chinese pig farmers are grappling with low pork prices, high costs and a growing outbreak of African swine fever, leading to a sharp rise in culling in recent weeks, analysts say.

China's pork demand has slowed due to weak economic growth and a shift in consumption trends towards poultry meat.

Pork consumption in China typically increases during the winter months due to demand for cured meat and preparations for the Lunar New Year. However, some experts predict that demand will fall significantly this year.

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