China Hog Prices Rebound Above CNY 11/kg for First Time Since March 5

Live hog prices in China rose to CNY 11.02 per kilogram on July 8, extending gains for eight straight days and climbing above CNY 11/kg for the first time since March 5, according to 36Kr. The latest price is more than 22% higher than the mid-April low, after hog prices began a choppy uptrend from mid-April. The report said the recent rise has been driven by capacity reductions in the industry and stepped-up policies aimed at stabilizing hog prices. It added that leading hog producers are cutting costs by optimizing feed formulas and reducing expenses, while also slowing slaughter pace and lowering the growth rate of annual shipment targets to protect cash flow. Databao data cited by 36Kr showed more than 20 A-share concept stocks tied to hog farming, with an average decline of 19.64% year-to-date.