Chinese pork prices weaker

Chinese wholesale pork prices have continued to weaken in recent months, reaching 31.55 RMB (around £3.50/kg) on 19 April.

The market for pig meat appears to be well supplied at the moment, although market reports indicate Chinese importers are keen to secure volume at the moment. So, whether wholesale prices soften further is uncertain.

Progress in rebuilding the Chinese pig herd has taken a slight turn for the worse, according to official statistics for April. Pig numbers are now back down to where they were in August. It may take some time for these lower pig numbers to feed through to wholesale market balances. Indeed the current de-stocking may in fact be supporting pork supplies in the short term.

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