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CnAgri says China's hog prices fell from about 18 yuan/kg in early 2017 to roughly 13 yuan/kg by mid-year, then held around 14-15 yuan/kg in the second half. Official data showed sow inventory down 5.81% year on year in November 2017, but pork supply rose about 4% in 2017 as slaughter weights and output per sow climbed.
The analysis forecasts hog prices near 14.5 yuan/kg in 2018, with new capacity expected to add to supply.
Expanding hog capacity points to continued pork oversupply and weak domestic hog prices, which reduces Chinese farmers' incentive to expand feed purchases. Lower feed costs from cheap corn and soymeal are partly why hog prices fell, so this outlook is mildly bearish for feed grain and meal demand.
en.cnagri.comFeb 9, 2018Not 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.
