Market analysis

With the further rise in prices, hog farmers continued to regulate their supplies to the market in anticipation of more near-term price gains. Some hogs that continued to be held in inventories have exceeded 100 kg, the normal weight for release into the market.

Meanwhile, cold conditions in the current winter season have slowed the rate of hog growth, affecting availability. Also, swine fever outbreaks have slowed piglet growth rate and took a heavy toll on piglets during the fattening process.

Despite ample supplies of aquatic products and eggs, pork consumption was minimally affected. Increased demand for waxed meat products in the run up to the Spring Festival (Chinese New Year) in February 2007 has fuelled pork demand and has led to more hog slaughters especially in villages.

Market forecast

With currently reduced supply and strong pork demand, prices are seen to register further gains in the week ahead.