Market analysis

In the run up to the Spring Festival celebration, which began from the weekend, hog raisers had released more stocks into the market. As peak demand from meat processing plants was already over, the market became saturated. Pork demand in cities also fell as workers returned to their countryside home for the festive season.

Hog prices in Sichuan province and Guangxi Zhuang Region continued to edge higher while those in the provinces of Hebei, Henan, Shandong, Jiangsu, Hunan, Hubei and Guangdong declined. However, prices of native common crossbreed hogs were stable in most regions.

Market forecast

In the week ahead, hog prices are expected to remain range-bound as trade activity slows in the week-long Spring Festival holidays.