Summary
[Donghai Futures commented on the sharp drop in live pigs: the price drop is expected to continue until next week]The pressure on spot sales of live pigs remains unabated. The number of breeding companies will increase year-on-year and month-on-month on 9/10/11 each month. The Mid-Autumn Festival did not drive strong consumption. As previously predicted, the company launched a price reduction promotion in late September. Today, a key enterprise in Henan cuts prices ahead of schedule to complete the scheduled sales plan for the Q3 quarter of 2021. At the same time, slaughter companies will also reduce the slaughter volume in the next three days to cope with the weakening of market demand after the Mid-Autumn Festival. The price drop is expected to continue until next week. The fundamentals have not changed much, and the pig price will continue to be sluggish. It is expected that the spot price will stop falling and hover around 11 yuan/kg.
The pressure on spot sales of live pigs remains unabated. The number of breeding companies will increase year-on-year and month-on-month on 9/10/11 each month. The Mid-Autumn Festival did not drive strong consumption. As previously predicted, the company launched a price reduction promotion in late September. Today, a key enterprise in Henan cuts prices ahead of schedule to complete the scheduled sales plan for the Q3 quarter of 2021. At the same time, slaughter companies will also reduce the slaughter volume in the next three days to cope with the weakening of market demand after the Mid-Autumn Festival. The price drop is expected to continue until next week. The fundamentals have not changed much, and the pig price will continue to be sluggish. It is expected that the spot price will stop falling and hover around 11 yuan/kg.
(Source: Donghai Futures)
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