# Hog prices fall below 9 yuan as sow herd drops to 36.02 million head; Guotai Pig Farming ETF index up over 2% intraday

> The average hog sale price fell to 8.64 yuan/kg, a year low, and the hog-to-grain ratio dropped to 3.62, below the 5:1 first-level warning line. National breeding sow inventory fell 4.7% quarter-on-quarter and 10.7% year-on-year to 36.02 million head at end-Q3 2026. Producers' losses are deepening, and analysts expect capacity cuts to push prices higher in 2027.

- Date: 2026-11-13 · published 2026-11-13T07:36:49.684Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/97417-hog-prices-fall-below-9-yuan-as-sow-herd-drops-to-36-02-million-head-guotai-pig
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Deep losses are forcing faster sow culling, which should cut hog supply and meal demand later, but high inventories keep near-term prices weak. For feed buyers, lower hog numbers point to softer feed demand into 2027.

## Read by commodity

- HOGS: bearish ▼

## Sources

- nbd.com.cn: https://www.nbd.com.cn/articles/2026-11-13/4646940.html

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