1. China's live pig price trend

Domestic and foreign Sanyuan (hybridization among 3 breeds of pigs) prices continued to decline weakly in March. The average price on March 1 was 27.97 yuan/kg, and the average price on March 31 was 25.67 yuan/kg, a sharp drop of 8.22% during the month.

2. Market Analysis

In early March, during the Spring Festival, the price of pigs dropped sharply, which caused farmers to reluctantly sell the pigs. The supply of live pigs in the market dropped sharply. To ensure the supply, the slaughterhouses raised prices slightly, which led to a slight rebound in domestic pig market prices after the overall decline. The slaughterhouses completed their procurement tasks. Later, the purchase price was lowered again, and the domestic pig price subsequently fell again.

Entering the end of March, the price of pigs has been falling unabated. Farmers have increased their intentions to sell pigs for cash. In addition, the demand for the terminal meat market is still weak. The intention of slaughterhouses to purchase at low prices has not been reduced. The problem of strong supply and weak demand in the pig market has been highlighted and many negatives. Under pressure, the domestic live pig market prices have further fallen. On March 31, the average price of foreign three yuan live pigs was 25.67 yuan/kg, a sharp drop of 8.22% from March 1.

In March, domestic corn prices rose and fell by 1.93% during the month. In March, domestic soybean meal prices fell sharply, with a sharp drop of 10.14% during the month. The overall cost of breeding and feeding showed a downward trend. The price of piglets was still at a relatively high level, and the cost of feeding was still relatively high. Although there has been a decline, the profit margin of aquaculture continues to shrink, and the enthusiasm of farmers to fill the market has declined.

3. Market outlook forecast

SunSirs hog product analysts believe that with many negative repressions, domestic hog market prices will continue to be weak in the short term. It is expected that the overall hog price in April will fall to around 24.5 yuan/kg before fluctuating forward.

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