# Broker Focus: Huatai Securities Says Renewed Hog-Price Trough Is Accelerating Capacity Reduction

> Huatai Securities said China’s national average hog price was 8.6 yuan/kg as of November 9, below the previous low of the current cycle. It attributed the renewed decline to ample supply and inventories alongside weak consumer demand, and said mounting cash losses could accelerate breeding-sow capacity reductions.

- Date: 2026-11-11 · published 2026-11-11T18:31:30.725Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/94038-broker-focus-huatai-securities-says-renewed-hog-price-trough-is-accelerating
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Further sow-herd reductions could eventually tighten hog supplies and support future live-hog prices, though the near-term market remains weighed down by excess supply and weak demand. Reduced herd numbers could also curb feed demand, including corn and soybean meal, over time.

## Read by commodity

- SBM: bearish ▼
- CORN: bearish ▼
- HOGS: bearish ▼

## Sources

- feng.ifeng.com: https://feng.ifeng.com/c/8xxXL1rtZSm

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