Pig price goes down, highest at 61,000 VND/kg

The price of live pigs today, August 19, in the Southern region recorded a scattered decrease in some provinces and cities, fluctuating between 56,000 - 59,000 VND/kg.

(Source: MEAT Deli)

Pig price today August 19

* The live pig market in the North recorded a decrease of 1,000 VND/kg.

Specifically, the provinces of Bac Giang, Phu Tho, Thai Binh , Ha Nam and Vinh Phuc all adjusted the transaction price down to 60,000 VND/kg.

Yen Bai province brought the price of live pigs to the lowest level in the region at 59,000 VND/kg, along with Lao Cai province.

Today's live pig price in the North is between 59,000 - 61,000 VND/kg.

* Pig prices in the Central and Central Highlands regions remained stable across a wide area.

In particular, the lowest transaction price in the region is 57,000 VND/kg, continuing to be present in the two provinces of Dak Lak and Binh Dinh.

Meanwhile, traders in Thanh Hoa and Nghe An are buying live pigs at 60,000 VND/kg, the highest in the region.

Currently, the price of live pigs in the Central and Central Highlands regions is around 57,000 - 60,000 VND/kg.

* In the Southern region, pig prices decreased sporadically in a few provinces and cities.

Accordingly, after a slight price reduction, live pigs in Ca Mau and Tien Giang are being purchased at a common price of 58,000 VND/kg.

Similarly, Soc Trang province reduced by VND1,000/kg to the lowest level in the region at VND56,000/kg.

The price of live pigs in the Southern region today fluctuates between 56,000 - 59,000 VND/kg.

* Vietcombank Securities Company Limited (VCBS) forecasts that pork prices will continue to remain high due to better market demand while supply decreases.

According to data from the analysis department, Vietnam's total pig herd is about 20-25% below normal, and pig supply in 2023 will not fluctuate much because many farmers will find it difficult to immediately re-herd on a large scale after suffering losses for two consecutive years.

In addition, low inflation and rising basic wages could be factors supporting year-end consumption, although food prices in June and July edged up slightly.

Another supporting factor is that the new wave of epidemics along with floods in China may reduce supply, pushing pork prices in that country up again, which may partly affect Vietnam's pork market.

In addition, the cooling price of animal feed is also a factor supporting the profit margins of businesses.

Source