On November 3, the national average price for outside-ternary live hogs fell to 8.95 yuan/kg, down on the previous day. Key breeders' daily slaughter volume rose 2.02% to 308,481 head, with ample supply, while consumer demand for carcasses was sluggish.
Dalian live hog futures LH2701 closed at 9,150 yuan/t, down 390 yuan/t.
Abundant hog supply and weak carcass demand keep domestic pork prices under pressure, reducing demand for feed meal and corn from hog farms and weighing on feed buyers' outlook.
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.