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Mysteel data shows the national hog price fell to 8.85 yuan/kg on November 4, down 3.9% since October 28 and about 26% year on year. Planned November slaughter at key provincial farms is up 2.56% month on month, while frozen pork stocks are high and restocking demand is weak.
Rising slaughter volumes and weak demand point to lower hog prices in early November, with a possible cured-meat demand lift later in the month that would weigh less on feed demand.
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.