Highest live pig price at 55,000 VND/kg, China's pork consumption forecast to decrease

The price of live pigs today, November 13, in the North did not record any new changes, fluctuating between 49,000 - 50,000 VND/kg.

Pig price today, November 13: Pig price highest at 55,000 VND/kg, China's pork consumption is expected to decrease. (Source: Vietnambiz)

Pig price today 11/13

*The pig market in the North did not record any new changes on the first day of the week.

Currently, the provinces of Lao Cai, Thai Nguyen, Vinh Phuc, Ninh Binh and Tuyen Quang are anchored at 49,000 VND/kg.

Live pigs in the remaining provinces and cities in the region are traded at 50,000 VND/kg.

Today's live pig price in the North is around 49,000 - 50,000 VND/kg.

* Pig prices in the Central and Central Highlands regions remained stable across a wide area.

Of which, the lowest price of live pigs in the region is 49,000 VND/kg, continuing to be present in Thanh Hoa, Nghe An and Ha Tinh.

Meanwhile, Lam Dong and Binh Thuan provinces are anchored at the highest threshold of 53,000 VND/kg.

Currently, the price of live pigs in the Central and Central Highlands regions ranges from 49,000 - 53,000 VND/kg.

* In the Southern region, pig prices remained unchanged compared to yesterday.

Accordingly, live pigs in Ca Mau are being purchased at 55,000 VND/kg, the highest in the region.

51,000 VND/kg is the lowest price of live pigs currently available in Ben Tre province.

The price of live pigs in the Southern region today fluctuates between 51,000 - 55,000 VND/kg.

* In the latest report of the United States Department of Agriculture (USDA), global pork production in 2024 is forecast to be at the same level as in 2023. At the same time, international trade in pork products is forecast to be more positive, but consumption demand may decrease slightly.

Specifically, world pork production in 2024 is expected to be 115.5 million tons, similar to 2023 levels, mainly due to lower production in the European Union (EU) and China. However, production in Brazil, Vietnam and the United States is expected to increase, helping to partially offset the decline.

In the EU, pork production is expected to decline by 2% in 2024 compared to 2023, to 21.2 million tonnes. Pig producers in the EU continue to face major challenges in controlling African swine fever (ASF), which has led to a decline in herd size and exports to some markets.

In Brazil, pork production is expected to increase by 4.9% to 4.83 million tons in 2024. At the same time, pork exports from this country are forecast to increase by 5.5% to 1.53 million tons. Pork production in the United States is forecast to increase by 2% in 2024 to 12.7 million tons due to increased pig numbers and lower feed costs.

US exports are forecast to grow 3% by 2024, driven by strong demand from Canada, the Philippines and South Korea, as well as market share gains from the EU in China and Australia.

China’s pork consumption in 2024 is expected to decline 1% from 2023 to 58.15 million tons due to lower domestic production, according to the USDA. The higher consumption in 2023 is mainly due to high domestic supply, but the slowing economy will lead to weaker demand and a pork surplus in the first half of 2023.

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