Weak hog feed demand weighs on bran prices

Prices for wheat bran have fallen as demand for hog feed remains weak.

Average prices in Hubei province are 2549 yuan per ton, down 14 yuan per ton compared to last week.

Although demand is weak, supply is also weak as flour millers are running at relatively low capacity. The fall in bran prices indicates continued weakness in the hog sector.

At the beginning of 2022, prices were around 2050 yuan per ton. Bran peaked at around 2700 yuan per ton at the beginning of this year but have since sold off due to weaker wheat prices and poor feed demand.