Large publicly listed hog companies sold more hogs in December, illustrating the increasing consolidation in the industry.
The largest 10 companies represented an industry portion of just 4.9% in 2016. This has grown to 21.4% in 2022.
Prices have also been falling, with the top 5 companies seeing an average price drop of 20% in December.
National average prices on Tuesday were just 15.46 yuan per KG for pork. The National Development and Reform Commission issued an early warning for the excessive decline in pork prices on Monday, with the hog-to-corn price ratio falling below 6:1. As of Tuesday, real-time indications put the ratio at 5.24:1.