# Hog prices in deep losses accelerate capacity cuts; hog cycle offers contrarian entry opportunity; E Fund Livestock ETF (159020) index rises over 2%

> China's national average hog price fell to 9.45 yuan/kg on October 23, with the industry in record losses and slaughter weights at highs. Frozen pork inventories are at seasonal highs and futures curves show prices below 10 yuan/kg for the next six months.

- Date: 2026-11-03 · published 2026-11-03T18:16:08.982Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/78161-hog-prices-in-deep-losses-accelerate-capacity-cuts-hog-cycle-offers-contrarian
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Heavy losses and forced sow culling point to shrinking pork supply from late 2027, which is bearish for hog prices near term and a potential turning point later. Feed buyers face weak hog-farm demand for feed in the near term.

## Read by commodity

- SBM: neutral
- CORN: neutral
- HOGS: bearish ▼

## Sources

- feng.ifeng.com: https://feng.ifeng.com/c/8xkRLVDrOoM
- m.jrj.com.cn: https://m.jrj.com.cn/madapter/fund/2026/11/03112358986966.shtml

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.