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The national average price for external ternary hogs fell to 8.63 yuan/kg on November 9, a 10-year low for the year, and breeders are losing money across the industry. Twenty-five A-share pig companies reported combined net losses of 24.473 billion yuan for the first three quarters, with the top three (Muyuan, Wens, New Hope) accounting for 16.848 billion yuan.
Oversupply, with sow herd cuts offset by higher productivity per sow, keeps hog prices weak and cuts into feed demand from producers. Producers are unlikely to cut output quickly, so a price recovery is expected to take a while.
cqnews.netNov 12, 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.
