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China Hog Market Weekly
CHINA - In this weeks China Hog Market Weekly, eFeedLink report that prices were mostly stable at the close of the week in review.
Price summary
Marginal price gains were registered in a few regions on tight local supplies.
Market analysis
More clenbuterol cases were discovered in major hog production regions including Hunan, Guangxi, Henan and Jiangsu, which affected pork demand and hence hog prices nationwide.
With current corn (a major raw material in hog production) prices at relatively high levels compared with the same period last year, hog farmers were keen to sell down their inventories quickly amid significant cost pressures.
Traders seized the opportunity afforded by the epidemic situation to engage in competitive pricing.
Market forecast
Despite the low inventory situation in some regions, prices failed to improve nationwide amid farmers' concerns that the epidemic situation might worsen again. In the absence of other major favourable market developments, prices should remain stable in early-November.
For information on this and other China market reports by eFeedLink, e-mail productinquiry@efeedlink.com
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