Price trend

According to the monitoring of SunSirs, the overall price of ternary live pigs at home and abroad in March bottomed out and rebounded slightly. The average price on March 1 was 12.40 RMB/kg, and the average price on March 31 was 12.18 RMB/kg, down 1.77% within the month.

Analysis review

In March, the domestic pig market continued to have strong supply and weak demand as a whole. The rebound in meat demand brought about by the opening of colleges and universities was limited. In addition, the epidemic situation in many places in the country reappeared, and the demand in the terminal meat market was even weaker. The domestic pig market price fluctuated as a whole. The overall price of domestic live pigs fluctuated to be weak. The continued weakness of pig prices caused farmers to sell and realize their profits. The overall price of domestic live pigs fell further. In mid-March, the average domestic pig price fell below the 12 RMB/kg mark.

In late March, the price of pigs in some areas fell to around 10 RMB/kg, which induced farmers to fully reluctant to sell and keep the price up. The competition between supply and demand in the pig market continued to intensify, which helped the domestic pig price bottomed out and rebounded slightly. On March 31, the average domestic pig price rebounded to 12.18 RMB/kg, up 3.22% from the lowest price of the month (11.80 RMB/kg on March 22).

In March, the domestic corn price was high and strong, rising by 2.92% within the month. The price of soybean meal fell after a surge, and rose 5.49% from the high point in the month. The price of corn and soybean meal continued to be high, the small rise in pig price was difficult to offset the sharp increase in feed costs, and the loss of pig breeding continued to expand.

Market outlook

The pig product analyst of SunSirs believes that the tight supply caused by reluctance to sell is difficult to support the overall recovery of domestic pig prices. At present, the domestic pig inventory is still at a relatively high level, and the epidemic situation in many places has exacerbated the problem of strong supply and weak demand in the domestic pig market. It is expected that domestic pig prices will continue to fluctuate slightly at the current level in April.

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