China's pig farmers are raising fatter pigs to profit from soaring pork pri...
NANNING, China - China’s pig farmers are raising fatter pigs to profit from soaring pork prices, boosting demand for key feed ingredient soymeal, and reducing some of the impact from a huge drop in the overall herd, said analysts and industry executives on Thursday.
The herd loss is expected to push down demand for soymeal, the most common protein in pig feed, by 6% to 7% for the 2018/19 crop, said Li Qiang, chief analyst at Shanghai JC Intelligence Co Ltd, before a recovery during the next crop year. Hogs are typically slaughtered in China at around 100 kg, but live hog prices have risen to as much as 33 yuan per kg - a record - in some parts of the country, more than double prices of a year ago.
And a flood of government policy measures to encourage more hog production is triggering expansion by pig farmers as well, further supporting soymeal demand. But Zhou cautioned that if sow and hog stocks keep falling, soymeal demand would decline as much as 4%.
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