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Thanks to increased domestic demand, China’s live pig prices rose in mid-November for the first time in two months, and this trend was expected to continue until the end of November, China’s Ministry of Commerce announced.
According to government statistics, the average domestic price of live pigs sold from hog farms increased to US$1.68 (¥11.53) per kilogram in mid-November, a 1.59% rise from early November.
In northern China’s Heilongjiang, Jilin, Shandong, Shaanxi and Hebei provinces, the growth rate for the average price of live pigs sold from hog farms reached 4.44%, 3.74%, 3.57%, 3.57% and 2.82%, respectively, according to the ministry.
In addition, average pig carcass prices in China increased 0.20% from November 9 to November 15 and 0.71% from November 16 and November 22, said ministry officials.
They also reported that China’s average fresh pork wholesale price rose 0.6% from November 9 to November 15, and 0.8% from November 16 and November 22.
Rising seasonal consumption is a major reason for the growth of China’s live pig prices, according to the government. Also, several snow storms that hit most regions of China last month caused difficulties in live pig transportation, pushing purchasing prices up.