Weekly Report W4 From Shanghai Joy-food

* : * : admin * : 2020-04-08 10:20:29 * : 0

Brief Condition in China Domestic Hog Market:

Supply ⭐⭐⭐⭐Stable supply

Demand ⭐⭐⭐⭐Peak season

Profit or Loss of Farmers ⭐⭐⭐⭐Relatively high profit (This week at 431 RMB/Head earned, m-o-m decrease rate of 4.6% )

Feed ⭐⭐⭐ The demand of pig feed decreases

Overall ⭐⭐⭐ Sufficient domestic hog supply maintain the price in stable

Market in Recent Weeks

- In recent weeks, the average hog price in China rose from to 15.19RMB/KG in week 2 due to the heavy snow and then dropped back to 14.82RMB/KG in week 4, decrease by 2.4%, with m-o-m decrease rate of 0.13%, and y-o-y decrease rate of 18.6%.

- Due to the approaching of Chinese New Year, the slaughter houses and most of the transportation is going to stop in the end of this month. And many factories and restaurants have prepared enough stock for CNY, as a result, both the demand and the supply decreases, so the price is predicted to be stable before CNY.

-The piglet price was at 30.4RMB/KG in week3, with m-o-m decrease rate of 0.4%, and y-o-y decrease of 26.9%.

Market in This Week

-In this week, the hog price was fluctuating in the whole week but showed an downward trend. The price increased to 14.98RMB/KG in Tuesday because the heavy snow in South of China.

China Market Conclusion

Although CNY is approaching, in this week, the importing market in China were still bad. People are pessimistic about the price after CNY.

Price stable and sells OK: Front feet, Knee bones

Price decreasing but sells OK: Hind feet, Neck Bones

Price decreasing and sells slow: Riblets, Whole Head, Spareribs, Meaty Riblets

Price is not good and sells slow: Tail bones, Femur bones, Humerus bones, Back bones, Half Head, Front Hock

Stock Level:

High: Whole Head/ Half Head, Front Hock, Humerus Bones, Femur Bones

Low: Meaty Riblets

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