Cash hog prices fell to multi-year lows on Tuesday, with prices at 10.65 yuan per ton, down 15.4% over the past month and down 28.1% over the past year. Futures prices also continued to fall. May futures continued to trade into new contract lows, reaching an intraday low of 11,120 yuan per KG.
Xinfadi wholesale market in Beijing notes that the price declines ahead of Chinese New Year which led some farmers to hold back supplies until after the holiday, even though the post-holiday period traditi...