National average hog prices rose 2.9% week on week to 8.8 yuan per kg, while farm losses on self-bred, self-raised hogs widened to about 447 yuan per head. Three industry consultancies estimated that sow inventories fell further in October, and 18 listed hog producers reported October slaughter volumes down 8.1% year on year.
The brokerage continues to recommend the hog sector on low valuations.
Continued sow herd reductions point to tighter Chinese pork supply later, which supports hog prices and reduces future feed grain demand from the sector. Widening losses, however, may keep near-term slaughter pressure and feed buying subdued.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.