# Hog prices hit 10-year low as 25 listed pig producers lose over 24 billion yuan in first three quarters; when will the cycle turn?

> 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.

- Date: 2026-11-12 · published 2026-11-13T00:20:36.312Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/96769-hog-prices-hit-10-year-low-as-25-listed-pig-producers-lose-over-24-billion-yuan
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

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.

## Read by commodity

- HOGS: bearish ▼

## Sources

- cqnews.net: https://www.cqnews.net/web/content_1570560445042405376.html

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