# [Viewpoint] Nanhua Futures: Spot hog prices range-bound, front-month contracts retreat as sentiment at the market bottom improves

> On November 10, China’s main January hog futures contract rose 0.43%, while the November contract fell 0.50%; the national spot average was unchanged at 8.58 yuan per kilogram. Analysts cited abundant supply, rising slaughter weights and high frozen-pork stocks as constraints, while producer reluctance to sell and seasonal demand offered limited support.

- Date: 2026-11-11 · published 2026-11-11T03:15:51.837Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/92850-viewpoint-nanhua-futures-spot-hog-prices-range-bound-front-month-contracts
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Current supply pressure and weak demand cap near-term hog prices, while herd reductions could support deferred contracts if they eventually reduce supply. Weak producer returns may also curb feed demand, although the article describes prices as range-bound rather than a clear directional move.

## Read by commodity

- SBM: neutral
- CORN: neutral
- HOGS: neutral

## Sources

- goodsfu.10jqka.com.cn: https://goodsfu.10jqka.com.cn/20261111/c681686192.shtml

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