Muyuan announced October hog sales of 4.78 million hogs in October, up from 4.46 million in September, but down from 5.26 in October 2021.
The average selling price for the month was 26.05 yuan per KG, which is the highest since January and February 2021 and is up 119% compared to October 2021.
Muyuan’s data also illustrates the recent trend of hog producers holding back supplies to feed hogs to heavy weights and taking advantage of higher prices.
The average implied weight of hogs in October was 120 kilograms. This average weight is up from just 96.5 in May and has risen consecutively every month since May.