Recently, the spot price of live pigs fell in linkage. Pig price is a domestic closed-loop operation. The price of domestic feed raw materials has soared due to the sharp rise of international soybean and corn prices. The impact of the sharp rise of feed cost on farmers is to aggravate the breeding loss. However, it still needs to be observed whether it leads to the accelerated depopulation of pig stocks. One or two months after the Spring Festival is the seasonal trough of pig price. In theory, farmers are prepared for this. At present, the pig price is still a certain distance from the previous low of 10 RMB/kg, the spot price may still have downward space, and there will be a second cyclical low in the second quarter. Operationally, we are not optimistic about the recent rebound in pig prices, and may continue to bottom in the future.

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