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Weekly Report W9 from Shanghai Joy-food

* : * : admin * : 2020-04-08 10:28:05 * : 0
Brief Condition in China Domestic Hog Market:
Supply                          ⭐⭐⭐⭐Stable supply
Demand                       ⭐⭐Peak season has passed
Profit or Loss of Farmers  ⭐⭐⭐Normal profit (This week at 324 RMB/Head earned, m-o-m decrease rate of 23.04% )
Feed                            ⭐⭐⭐   The demand of pig feed decreases
Overall                       ⭐⭐⭐    Lower hog price but higher feed cost keep squeezing the profit of farmers

Market in Recent Weeks
- In recent weeks, the average hog price in China decrease dramatically from 13.64RMB/KG before CNY in week 6 to 11.9RMB/KG in week 9, decrease by 12.76%, with m-o-m decrease rate of 17.48%, and y-o-y decrease rate of 29.84%.
-It is now the off season of pork consumption during the year, and the supply is overbalanced the demand. The hog price in North of China has already dropped and remained stable in a real low level which was even lower than 10KG/RMB, and in the South the price were keep dropping due to the decrease of the price in the North. The price is predicted to be stabled in a low position afterwards.
-The piglet price was at 25.4RMB/KG in week3, with m-o-m decrease rate of 3.6%, and y-o-y decrease of 29.4%.

Market in This Week
-In this week, the hog price dropped slightly in low level from 11.95RMB/KG to 11.86RMB/KG today. The price may increase slightly because of the heavy snow in the north of China in following days.

China Market Conclusion
In the market most the products are dropping and people are pessimistic about the price afterwards.
The good news is the volume of smuggling products may decrease in March, because the NPC &CPPCC is going to hold recently and 15th of March the day on cracking down counterfeit goods is approaching. Moreover, the transport cost on repackaging products was increased. Consequently, The price of hind feet and front feet or some other products may increase in March.

Price good and sells OK: Hind feet, Knee bones, Hind feet short cuts
Price stable and sells OK: Front Feet, Neck Bones, Whole Head, Half Head,Meaty Riblets
Price decreasing and sells slow: Riblets, Spareribs, Back Bones, Front Hock
Price is not good and sells slow: Tail bones, Humerus bones, Femur Bones

Stock Level:
High: Bad Quality Whole Head/ Half Head, Front Hock, Humerus Bones, Femur Bones, Tail Bones
Low: Meaty Riblets, Hind Feet, Knee Bones
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