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Pork Weekly Report Week 18 From Shanghai Joy-food

* : * : admin * : 2020-04-08 10:45:38 * : 0
Brief Condition in China Domestic Hog Market:
Supply                           ⭐⭐⭐⭐Excessive supply
Demand                        ⭐            Weak demand
Profit or Loss of Farmers  ⭐           Lost (This week more than 200RMB/Head lost.)
Feed                              ⭐⭐       Feed price is still high and demand is still weak. (Now Corn at 1.96RMB/KG, with y-o-y increase rate of 10.1%)
Overall                          ⭐             Excessive supply but weak demand made all farmers face huge difficulties

Market in Recent Weeks
- In recent weeks, the average hog price in China keep decreasing slightly in really low level to 9.91RMB/KG in week 18, with m-o-m decrease rate of 4.71%, and y-o-y decrease rate of 31.94%.
-Among all the provinces in China, hog prices dropped the most in Northeast area, which is the area that supply huge amount of hog to all China. The reason of this decrease was due to the policy release by the government that now hogs can only be sold in its own province instead of selling to other province.
-The piglet price was at 24.49RMB/KG in week 18, with m-o-m decrease rate of 3.51%, and y-o-y decrease of 41.12%.

Market in Week 18
-In week 18, the hog price dropped to from 9.98 to 9.89RMB/KG, which has dropped to the lowest price for recent 10 years. The price may keep dropping slowly in this really low level and the expectation of price increase in following months is slim.
- Today at 9.83RMB/KG.

China Market Conclusion
In the importing market, the extra 25% tax that will be charged on the U.S. importing pork products did not give any confidence to the market. The prices are still all following.
Price increase slightly and sells good: Whole Head
Price increase slightly but sells no good: Front Hock, Hind feet
Price OK due to low stock: Ears, Knee bones, Hind feet short cuts, Neck Bones, Front Feet, Meaty Riblets
Price decreasing and sells slow: Half Head, Riblets, Spareribs
Price is really bad and no volume with huge stock: Tail bones, Humerus bones, Femur Bones, Back Bones

Stock Level:
Low: Hind Feet, Knee Bones, Ears
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