Hog prices continue to rise as firms announce September sales data

Muyuan, China’s largest publicly listed hog company, announced that the average selling price for hogs in September was 23.06 yuan/kg, up 10.1% month on month and up 100% year on year. During the month the company also sold 4.46 million hogs, down 8.7% compared to August, and up 44.6% compared to September 2021.

New Hope, another large hog breeder, announced that it had sold 1.17 million hogs in September, up 23.8% month on month and up 24.74% year on year. The average selling price was 22.96 yuan/kg, which was up 9.5% compared to August, and up 80.8% compared to September 2021.

Hog prices continue to rise over the holiday with national average prices hitting a new yearly high 26.68 yuan/kg which is up 116% in the past six months.

The National Development and Reform Commission also announced a fifth round of pork reserve auctions. In its announcement the Commission said the production capacity was sufficient and the herd size, including piglets and breeding sows, has risen for several months.