# Hog-to-Grain Ratio Remains in the First-Level Alert Zone for Excessive Decline; Hog Prices Are Severely Undervalued

> China’s national hog-to-corn price ratio was 3.79:1 on November 8, below the 5:1 threshold for the highest-level excessive-decline warning. The report says authorities may begin pork procurement for state reserves, which could help hog prices stabilize and rebound from their lows.

- Date: 2026-11-09 · published 2026-11-09T13:36:50.480Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/89572-hog-to-grain-ratio-remains-in-the-first-level-alert-zone-for-excessive-decline
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

State reserve purchases would add demand for pork and could support hog prices. The low ratio also signals severe pressure on producers, though the article describes intervention as a possibility rather than an announced purchase.

## Read by commodity

- HOGS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2026-10-28 | [Lower feed costs to protect hog raisers from low farmgate prices - DA \| GMA News Online](https://feedsoft.ai/events/209-lower-feed-costs-to-protect-hog-raisers-from-low-farmgate-prices-da-gma-news.md) | -2.7% | — |
| HOGS | 2024-06-07 | [China's Pig Prices Rebound in 2024 Due to Market Recovery and Government Intervention](https://feedsoft.ai/events/29749-china-s-pig-prices-rebound-in-2024-due-to-market-recovery-and-government.md) | -0.3% | -2.2% |
| HOGS | 2026-09-10 | [China's hog capacity reduction poised to accelerate in Sep \| Mysteel](https://feedsoft.ai/events/17465-china-s-hog-capacity-reduction-poised-to-accelerate-in-sep-mysteel.md) | -4.1% | -8.3% |
| HOGS | 2022-02-11 | [Pig outlook: Powerful rally in US lean hog futures continues
						 \| The Pig Site](https://feedsoft.ai/events/42838-pig-outlook-powerful-rally-in-us-lean-hog-futures-continues-the-pig-site.md) | +13.0% | +11.4% |
| HOGS | 2025-06-18 | [Reaping of the sow: China to reduce pig count by 1 million amid low prices, deflation risk \| South China Morning Post](https://feedsoft.ai/events/24183-reaping-of-the-sow-china-to-reduce-pig-count-by-1-million-amid-low-prices.md) | +2.3% | -2.7% |

## Sources

- goodsfu.10jqka.com.cn: https://goodsfu.10jqka.com.cn/20261109/c681611843.shtml

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