# Futures and spot both weaken: hog prices keep bottoming out, capacity reduction signals emerge, is the turning point near?

> China's live hog futures main contract closed at a record low of 9,150 yuan/ton on November 3, down 4.09% in a day, and spot prices near 4.47 yuan/jin are approaching April's historic low. Sow herd data show breeding sows at 36.02 million head at end-Q3, down 10.7% year on year, while the industry has run losses for 14 months.

- Date: 2026-11-04 · published 2026-11-05T00:16:10.180Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/80794-futures-and-spot-both-weaken-hog-prices-keep-bottoming-out-capacity-reduction
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Heavy near-term slaughter supply keeps hog prices under pressure, but the sow herd decline points to lower pork output from around January 2027, which could support prices and reduce demand for feed ingredients later.

## Read by commodity

- HOGS: bearish ▼

## Sources

- finance.sina.com.cn: https://finance.sina.com.cn/money/future/wemedia/2026-11-05/doc-inixqxhu6625442.shtml

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