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WH Group said China's pig prices are expected to fall in H2 2024 as supplies remain ample and pork demand stays sluggish. Hog prices have risen about 40% since early May, buoyed by herd reductions and farmers holding back pigs, a practice that will shrink later this year.
WH Group reported first-half net income of $784 million, up from $420 million.
Expected Chinese hog price declines and weaker pork demand would reduce hog-farm margins and could slow feed purchases, pressuring corn and soymeal demand from China.
nationalhogfarmer.comAug 13, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
WH Group, the world's largest pork producer, forecast falling China pig prices on ample supply and weak demand, which is a bearish global pork sentiment signal that could pressure lean hog futures.
