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As of October 30, the national average hog price was 9.02 yuan/kg, down 1.06 yuan from late September. Sow herd fell 10.7% year on year to 96% of normal holding levels, while farmers' losses widened to about 354 yuan per head.
Slaughter-plant utilization was 37.31%, and the analyst view is bearish with moderate conviction.
Persistent hog losses and weak slaughter demand may trigger further sell-offs and reduce pig feed demand, pressuring meal and grain consumption in the short term.
x.qhkch.comNov 2, 2026After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
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.
