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Chinese hog spot prices stayed weak on November 3, with national outside-three-元 averages near 9 yuan/kg and industry losses above 300 yuan per head. Official data showed sow inventory at 36.02 million head, down 10.7% year on year, the first drop below the normal holding level.
Brokers including Guojin and Guosheng said low prices and policy-driven capacity cuts could eventually reverse the cycle, while short-term prices stay low; Shandong live cattle averaged 31.34 yuan/kg in October, up 15.9% year on year.
Persistent hog losses and sow culling point to lower Chinese hog output later, but near-term oversupply limits feed demand gains. Rising cattle prices from tighter import quotas could support beef-related demand.
163.comNov 3, 2026Not 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.
