Average wholesale pork prices in China were 18.61 CNY/kg on January 30, up 0.6% from two weeks earlier. Live hog prices, however, fell 3.2% on the day to 12.52 CNY/kg, and the weekly average fell 2.3% to 12.81 CNY/kg.
Slaughterhouses cut purchases of heavier hogs as demand started slowly ahead of the Spring Festival.
Weaker live hog prices and slow demand ahead of the Spring Festival reduce farmer margins and signal softer near-term feed demand for hog production. Lower live hog prices are bearish for hog feed buying.
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.