In general, the price of live pigs today remains stable nationwide. According to a survey, the national live pig market is currently fluctuating between 60,000 - 63,000 VND/kg. China has been supplying nearly half of the global pork market share. Currently, pork output in the third quarter of 2024 has decreased to 12.59 million tons.
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| Pig price today, November 22: Price remains unchanged in all 3 regions. Illustrative photo. (Source: Vincom) |
Pig price today 11/22
*Pig price in the Northern region
The latest survey shows that the northern pig market continues to remain stable this morning, buying and selling in the range of 61,000 - 63,000 VND/kg.
Of which, Ninh Binh and Lao Cai are the two provinces with the lowest price in the region at 61,000 VND/kg. On the contrary, the highest price in the region is 63,000 VND/kg recorded in the provinces of Thai Nguyen, Phu Tho, Thai Binh, Vinh Phuc, Tuyen Quang and Hanoi.
*Pig price in the Central Highlands region
Pig prices in the Central Highlands provinces remain unchanged, ranging from 60,000 - 61,000 VND/kg.
Accordingly, Thanh Hoa, Nghe An, Quang Binh and Lam Dong provinces are purchasing live pigs at the highest price in the region, reaching 61,000 VND/kg.
*Pig price in the Southern region
After many days of fluctuations, the southern pig market today also moved sideways following the general trend.
Currently, localities in this region are trading at a price difference of 1-3, fluctuating between 60,000 - 63,000 VND/kg. Of which, Long An, Ca Mau provinces and Can Tho city are selling live pigs at 63,000 VND/kg.
*According to data from the National Bureau of Statistics of China, pork output in the third quarter of 2024 fell to 12.59 million tons.
The continued decline reflects a challenging economic environment as consumer demand remains weak, affecting the country's massive pork industry, which supplies nearly half of the global market.
“Declining demand has led to lower slaughter rates as households curb spending amid economic uncertainty,” said Boyar, a Beijing-based agribusiness consultancy. “Supply pressure remains in the market and demand has not improved significantly… Supply and demand are at a standstill, and these are ongoing challenges in balancing production and consumption.”
In the first nine months of 2024, pork output fell 1.4% year-on-year to 42.4 million tonnes, while the number of pigs slaughtered fell 3.2% to 520.3 million. China's pig herd was 426.94 million at the end of September 2024, down 3.5% year-on-year, in line with the government's goal of addressing overcapacity that has put pressure on meat prices.
Still, some pig farmers are expected to be profitable in the third quarter of 2024, according to China’s Ministry of Agriculture, as efforts to reduce inventories and cost-saving strategies help stabilize hog prices. But falling demand has limited the upside, with prices falling to a four-month low of $2.41 per kilogram after hitting $2.95 in August 2024, according to MySteel data. The sow herd has been hit, falling 4.8% to 40.36 million as of August 2024.
The combination of weak consumer demand, government-supported herd reductions and cautious market response has proven to be a pivotal period for China’s pork industry as the country faces complex challenges of economic pressure and structural adjustment.
Source: https://baoquocte.vn/gia-heo-hoi-hom-nay-2211-giu-gia-tren-ca-3-mien-nguon-cung-thi-truong-toan-cau-giam-sut-294658.html
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