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Weekly Report W12 From Shanghai Joy-food

* : * : admin * : 2020-04-08 10:40:27 * : 0
Brief Condition in China Domestic Hog Market:
Supply                           ⭐⭐⭐⭐Stable supply
Demand                        ⭐         Peak season has passed
Profit or Loss of Farmers  ⭐        Lost (This week more than 100-200RMB/Head lost.)
Feed                              ⭐⭐      The demand of pig feed decreases but huge increase of the price(Now Corn at 1994RMB/Head, with y-o-y increase rate of 16.35%)
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 keep decreasing dramatically from 11.3RMB/KG before CNY in week 10 to 10.94RMB/KG in week 11, decrease by 3.16%, with m-o-m decrease rate of 11.99%, and y-o-y decrease rate of 32.55%.

-The end consumption in China is really bad. The farmers are now losing money on raising pigs, so now reluctant to sell the pig the this low price. However, the slaughter houses now only slaughter pigs according to the sells volume.
-The piglet price was at 24.5RMB/KG in week 11, with m-o-m decrease rate of 4.8%, and y-o-y decrease of 35.2%.
-The government in China are now planning to store hogs in order to calm down pessimistic emotion in the market.

Market in This Week
-In this week, the hog price dropped to 10.25RMB/KG today. And the price now is already lower than the lowest price in 2014. The price may keep dropping slightly and stay in low level due to the low consumption.

China Market Conclusion
In the market, most of people have huge stock for many products.
Price decreasing and sells OK: Hind feet, Knee bones, Hind feet short cuts
Price stable but sells slow: Ears
Price decreasing and sells slow: Front Feet, Neck Bones, Whole Head, Half Head, Meaty Riblets
Price is bad and sells slow: Riblets, Spareribs, Back Bones
Price is really bad and no volume with huge stock: Tail bones, Humerus bones, Femur Bones, Front Hock

Stock Level:
Low: Hind Feet, Knee Bones, Ears
previous item: Pork Weekly Report Week 18 From Shanghai Joy-food next item: Weekly Report W9 from Shanghai Joy-food