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China's live hog futures fell from about 12,357 yuan in August 2026 to about 9,348 yuan in early November, a drop of over 20% in three months. Tylosin tartrate averaged 221 yuan per kg on 4 November, down 1.78% on the day and at a new low for the year, and the veterinary raw material price index fell 0.28% to 64.87.
Weak hog margins are cutting farmers' spending on animal health products, which lowers demand for veterinary drug inputs. This signals softer demand for livestock feed and medicine ingredients, with weak hog prices pointing to reduced livestock feed demand in China.
cj.sina.com.cn行业热点速览：瑞普生物海外端兽药出海打开增量空间 行业热点速览：潍坊瑞成医药 ″1600 吨/年兽药原料药……″ 环评 行业热点速览：国邦医药氟苯尼考上半年出货量超2,500吨Nov 5, 2026Not 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.
