Slight increase in the North and Central regions; Pork prices in the US decrease

Today's live hog price increased slightly in the Northern and Central regions, with many provinces and cities recording VND64,000/kg. According to RaboResearch, global pork consumption will increase in the fourth quarter of 2024 and the trend in pork consumption is positive.

Pig price today, November 7: Stable in the North, mixed fluctuations in the Central and South. (Source: Ausfarm)

Pig price today 11/7:

*Pig price in the North:

According to the latest records, the price of live pigs in the Northern region increased in Vinh Phuc, Phu Tho and Thai Nguyen, all reaching 64,000 VND/kg.

Currently, the three provinces above, along with Hanoi, Bac Giang, Hai Duong, Hung Yen and Thai Binh, are the localities with the highest transaction prices in the country. The remaining provinces in the region purchase at around 62,000 - 63,000 VND/kg.

*Pig price in the Central Highlands region

In the Central Highlands region, the price also increased by 1,000 VND/kg in Thanh Hoa and Nghe An, reaching 63,000 VND/kg, the highest in the region.

Also recording this increase, live pigs in Ha Tinh were sold at 62,000 VND/kg, the same price as live pigs in Quang Binh. Live pig prices in the remaining localities in the region are fluctuating between 58,000 - 61,000 VND/kg.

*Pig price in the Southern region

After mixed fluctuations in the morning session on November 6, the southern pig market today kept prices stable at around 60,000 - 62,000 VND/kg.

Of which, Dong Thap and Can Tho have the highest price of live pigs at 62,000 VND/kg. In contrast, traders in Binh Phuoc, Dong Nai, Ba Ria - Vung Tau, An Giang, Hau Giang, Bac Lieu, Tra Vinh and Soc Trang all buy at 60,000 VND/kg, the lowest in the region.

* Despite improved profitability, global pig farmers remain cautious about restocking due to ongoing trade, disease and demand uncertainties, according to a new report from RaboResearch. Transport challenges and potential impacts from La Niña (from hot to cold) further complicate the market, while pork consumption is trending positively.

The global sow herd remains stable through Q3 2024, with little sign of growth despite improved profitability in some regions. RaboResearch Senior Meat Analyst Christine McCracken predicts seasonal production will increase as temperatures cool and fresh corn supplies are plentiful, although herd health challenges typically increase during this period.

Positive trends in pork consumption. Pork consumption continues to improve thanks to the improving economic situation. Lower energy prices are slowing inflation, although higher food and service prices are weighing on consumers. Increased seasonal demand and highly competitive meat prices will support favorable consumption in Q4/2024.

Consumer confidence remains a challenge in many markets due to ongoing economic difficulties, Mr. McCracken concluded. Consumer trends will impact prices, investment decisions and global trade.

Source: https://baoquocte.vn/heo-price-increased-today-711-increased-nearly-in-the-northern-and-central-regions-heo-price-in-my-292834.html