China's Hog Numbers Rise, But Demand Still Suffers from COVID-19
China Hog Numbers 020123
China's hog numbers continue to rise as the country rebuilds after outbreaks of African swine fever (ASF) decimated China's pig herd beginning in August 2018.
China's sow herd increased in December 0.6% to 43.9 million head and was up 1.4% from the end of 2021. According to ag ministry data, China's pig herd also increased almost 2% in December to 453 million head and was slightly larger than last year.
This continues to put pressure on Chinese hog prices, AgDay TV's Clinton Griffiths reports.
"I think we are a bit surprised to see after a one-week holiday for China, that they actually came back in with a cash hog price lower than all the prior winter lows," says analyst Rich Nelson of Allendale, Inc.
Nelson says prices are also lower with demand still suffering due to COVID-19. Market analysts thought consumption would pick up with the easing of their COVID-1 restrictions, but its been off set by the surge in new cases.
They are more hopeful for second quarter of this year, Griffiths reports.
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