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China's pig production capacity has returned to high levels. Recently, the market supply and demand relationship has improved, the price of hogs has rebounded for five consecutive weeks, and farming losses have been reduced. According to the National Bureau of Statistics, national pork production in the first quarter was 15.83 million tons, a year-on-year decrease of 0.4%. According to the Ministry of Agriculture and Rural Development's monitoring, in the 2nd week of April, the national average price of hogs was 15.4 yuan per kilogram, up 5.3% year-on-year.
Last month, China's Ministry of Agriculture and Rural Development issued a plan to control hog production capacity which adjusted the target number of sows from 41 million head to 39 million head. At the end of March, the national breeding sow inventory was 39.92 million, down 7.3% year-on-year, equivalent to 102.4% of the target of 39 million.
The number of newborn piglets decreased from October 2023 until March 2024 when it rose. This is a year-on-year decrease of 4.9% for the period. The Ministry expects that with the downward trend in the number of newborn piglets, second-quarter pig market supply and demand will further improve and pig farming may see a return to profitability.
At the end of March, the inventory of pigs to be slaughtered in 2 months on large-scale farms nationwide decreased by 3% year-on-year. This indicates that the number of hogs to be marketed in the second quarter will decrease.
The Ministry of Agriculture and Rural Affairs will continue to focus on stabilizing production capacity, policies, and the production and supply of live pigs along with strengthening disease prevention and control.
April 19, 2024/ Ministry of Agriculture and Rural Affairs/ China.
http://www.moa.gov.cn
