Pig prices increase nationwide, Chinese market goes in the opposite direction

The price of live pigs today, January 9, in the Northern region increased by 1,000 - 2,000 VND/kg, fluctuating between 51,000 - 52,000 VND/kg.

Giá heo hơi hôm nay 13/9: (Nguồnvnbusiness

Pig price today January 9: Pig price increases nationwide, Chinese market goes in the opposite direction. (Source: Vnbusiness)

Pig price today 9/1

* The live pig market in the Northern region increased by 1,000 - 2,000 VND/kg.

Of which, Vinh Phuc province adjusted the price up by 2,000 VND/kg to 52,000 VND/kg - equal to Hung Yen, Hanoi and Tuyen Quang.

Lao Cai, Nam Dinh, Thai Nguyen, Phu Tho, Thai Binh, Ha Nam and Ninh Binh provinces all traded at 51,000 VND/kg, an increase of 1,000 VND/kg.

Today's live pig price in the North is around 51,000 - 52,000 VND/kg.

* Pig prices in the Central and Central Highlands regions increased from VND 1,000/kg to VND 2,000/kg.

Specifically, live pigs in Nghe An province were purchased at 51,000 VND, an increase of 2,000 VND/kg - the highest in the region.

After increasing by 1,000 VND/kg, Thua Thien Hue is trading at 50,000 VND/kg, equal to Thanh Hoa, Quang Binh and Lam Dong provinces.

Pigs in the remaining provinces are still purchased at stable prices today.

Currently, the price of live pigs in the Central and Central Highlands regions is around 48,000 - 51,000 VND/kg.

* In the Southern region, pig prices also increased following the general market trend.

Currently, the price of live pigs recorded in Long An and Vinh Long is 51,000 VND/kg, up 1,000 VND/kg and 2,000 VND/kg respectively compared to the same time yesterday morning.

Other localities did not record new fluctuations.

The price of live pigs in the Southern region today fluctuates between 49,000 - 51,000 VND/kg.

* Pork prices in the Chinese market are falling rapidly due to the rapid increase in pork supply while demand remains normal.

The price of live hogs for January 2024 delivery on the Dalian Commodity Exchange (DCE, China) in the session on December 5 decreased by 4% to 13,480 yuan (NDT)/ton (1,886 USD/ton) - establishing the fourth consecutive session of decrease.

The price has also fallen 10.1% over the past week and 37% since the beginning of the year, to a new record low not seen since the commodity began trading.

According to data from market research firm MySteel, pig prices in China, which have been falling steadily since August 2023, fell to 14.2 yuan/kg on December 5 despite the Chinese government's intervention efforts.

Chinese pig farmers are grappling with low prices, high costs and a growing outbreak of African swine fever, which has led to a sharp increase in culling in recent weeks, analysts say. Demand for pork in China has slowed due to weak economic growth and a shift toward poultry.

Pork consumption in China typically increases during the winter months due to demand for cured meat and preparations for the Lunar New Year. However, some experts predict that demand for pork in the country will drop significantly this year.

Analysts say that the price of pigs on the futures market in China will stay below 16,000 yuan/ton until July 2024. This is a price below the production cost for both farmers and livestock enterprises.

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