China Live Pig Prices Rise Then Fall in August, Outlook Uncertain for September

The price of live pigs in China experienced an unusual pattern in August 2024. According to SunSirs, the average price rose by a modest 4.72% from 10.38 RMB/kg on August 1 to 10.87 RMB/kg on August 31.

The initial drop in supply due to high temperatures and humidity was followed by a slight increase as demand picked up in the retail meat market, especially with the approaching school semester. Slaughterhouses also raised purchase prices, driving up domestic pig prices.

However, towards the end of August, farmers became more inclined to sell their stock, leading to an increase in market supply and causing slaughterhouses to lower their purchase prices. This resulted in a stabilization of prices with a downward bias.

The price ratio between live pigs and corn showed an overall upward trend, from around 4.6:1 at the beginning of August to approximately 4.9:1 before dipping slightly to around 4.8:1 by month's end.