According to the monitoring of SunSirs, the domestic and foreign three yuan pig prices continued to fall this week, with the average price of 26.83 RMB/kg at the beginning of the week and 26.50 RMB/kg at the weekend, down 1.23% during the week.
After the slaughter enterprises completed the acquisition task, they slightly lowered the purchase price of pigs. The price of the pig market was weak, and the demand of the terminal meat market was still sluggish. The reduction of the pig price induced farmers to further sell and realize. The supply pressure of the pig market continued to increase, and the domestic pig price continued to bear the pressure. On November 4, the domestic pig price fell to 26.50 RMB/kg, down 4.44% from the year's high point (October 21, 27.73 RMB/kg).
Last week, the domestic corn price rose by 0.15%, while the soybean meal price continued to rise by 1.85%. In general, the domestic pig feeding cost continued to increase, the piglet price remained high as a whole, and the breeding cost continued to rise, which will form a strong bottom support for the domestic pig price in the future.
The analyst of live pig products of SunSirs believes that the drop in pig prices has induced farmers to sell for cash, the supply of live pigs in the market has continued to increase, and the overall pressure on pig prices has led to a weak decline. Supported by high breeding costs, there is limited space for overall decline of live pigs in the future market.
