Pork Weekly Report W23 from Shanghai Joy-food

* : * : admin * : 2020-04-08 11:09:54 * : 0

Please check the brief report of China market below.

Brief Condition in China Domestic Hog Market:

Supply ⭐⭐⭐ Supplied volume from large enterprises decreased in recent weeks

Demand ⭐⭐ Still in Weak Season, but demand increased a little in short period because of busy farming season and the approaching of the Dragon Boat Festival in China

Profit or Loss of Farmers ⭐ Lost (This week around 47RMB/Head lost.)

Feed ⭐⭐ Feed price still in high level (Now Corn at 1.916RMB/KG, with y-o-y increase rate of 7%)

Overall ⭐⭐ Pork market will stabilized in low level

Market in Recent Weeks

- In recent weeks, the average hog price in China increased to 11.14RMB/KG in Week 21 and stabilized at 11-12RMB/KG afterward. In Week 23 at 11.19RMB/KG, with m-o-m increase rate of 12.46%, and y-o-y decrease rate of 16.68%.

- The local pork market is still in huge lost. All people in this industry are trying and hoping the market to getting better. Although the pork price increased a slightly in recent weeks, to be frank, it is still far away from turning loss to profit.

- Recently, the volume of livestock pork in China dropped due to the high mortality of the piglet in last winter, so the supply from some provinces became a little tense. As a result, the slaughtering plants purchased the pork in higher price and caused the increase of the pork price in China.

- However, from the demand side, after the busy farming season, it is still the weak season for pork consumption in China, so this wave of increase of the price will still be restricted by the low demand. The pork price is predicted to be stable afterwards and drop again slightly.

-The piglet price was at 24.99RMB/KG in week 23 , with m-o-m increase rate of 1.39%, and y-o-y decrease of 34.3%.

Market in Week 23

- In week 23, the hog price rose from 11.12 to 11.29RMB/KG.

- Today at 11.34RMB/KG.

China Market Conclusion

Level A: Front Feet, Hind Feet Short Cuts

Level B: Spareribs, Kidney, Pork Head

Level C: Ears, Knee Bones, Riblets, Half Head, Front Hock, Neckbone

Level D: Tail bones, Femur Bones, Back Bones

Stock Level:

High：Head, Hocks, Spareribs, Bone products, Heart

Low: Front Feet, Hind Feet, Knee Bones