Pig prices are "standing still", has the downward trend stopped?

The price of live pigs today, October 16, remained stable across the country, fluctuating between 48,000 - 53,000 VND/kg.

Pig price today October 16: Pig prices are all 'standing still', has the downward trend stopped? (Source: aFamily)

Pig price today October 16

* The pig market in the North moved sideways on the first day of the week.

Accordingly, 50,000 VND/kg is the lowest price of live pigs in the region, continuing to be present in Yen Bai, Lao Cai, Nam Dinh, Phu Tho, Ha Nam, Vinh Phuc and Ninh Binh.

Traders in the remaining provinces and cities purchased live pigs at a stable price of around 51,000 - 52,000 VND/kg.

Today's live pig price in the North is around 50,000 - 52,000 VND/kg.

* Pig prices in the Central and Central Highlands regions have no new changes.

Specifically, the lowest transaction price in the region is in Nghe An province at 49,000 VND/kg. Live pigs in Quang Ngai and Lam Dong provinces are being purchased at the highest price in the region at 52,000 VND/kg.

50,000 - 51,000 VND/kg is the price of live pigs recorded in the remaining provinces.

Currently, the price of live pigs in the Central and Central Highlands regions ranges from 49,000 - 52,000 VND/kg.

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

Of which, Kien Giang and Ca Mau continue to maintain the lowest and highest pig prices in the region at 48,000 VND/kg and 53,000 VND/kg.

Live pigs in the remaining provinces and cities in the region are purchased stably at around 49,000 - 52,000 VND/kg.

The price of live pigs in the Southern region today fluctuates between 48,000 - 53,000 VND/kg.

* Up to this point, the price of live pigs has decreased by 13-17% compared to the peak in early July. This price is also returning to the common level of the first 4 months of 2023.

According to industry experts, pork prices have been low recently, partly because there is still a small amount of over-aged pigs, and partly because African swine fever has occurred in some areas, causing people to sell their pigs to escape the epidemic.

The pig market in 2023 is quite difficult due to the economic recession, the number of businesses decreasing, and workers tightening spending.

Mr. Nguyen Tri Cong, Chairman of Dong Nai Livestock Association, commented that at the end of the year and during Tet, the price of live pigs may be higher than at present but still below 60,000 VND/kg because supply is still available but demand is very low.

“Normally, pork consumption from the beginning of the fourth quarter of 2023 to Lunar New Year is considered the most vibrant period of the year, however this year the market is quite quiet. The price of live pigs will be below 60,000 VND/kg until the first half of 2024,” said Mr. Nguyen Tri Cong.

Source