Pig prices fall sporadically, Chinese market goes in the opposite direction

The price of live pigs today, September 23, in the Northern region decreased by 1,000 VND/kg, fluctuating between 56,000 - 58,000 VND/kg.

Pig price today, September 23: Pig price decreased sporadically, Chinese market went in the opposite direction. (Source: Meat Deli)

* Pig prices in the Northern region decreased sporadically by 1,000 VND/kg.

Specifically, traders in Hanoi and Tuyen Quang traded at 56,000 VND/kg, down 1,000 VND/kg.

Other localities maintain purchasing live pigs at prices ranging from 56,000 - 58,000 VND/kg.

Today's live pig price in the North is around 56,000 - 58,000 VND/kg.

* The pig market in the Central and Central Highlands regions decreased slightly.

Of which, 55,000 VND/kg is the transaction price recorded in Khanh Hoa after a decrease of 1,000 VND/kg.

55,000 - 57,000 VND/kg is the price range recorded in the remaining provinces.

Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 55,000 - 57,000 VND/kg.

* Pig price in the South decreased by 1,000 VND/kg in some localities.

In more detail, after a price reduction, live pigs in Hau Giang and Tra Vinh were both traded at 55,000 VND/kg.

56,000 VND/kg is the purchase price recorded in Tien Giang and Bac Lieu, both decreased by the same price. In the remaining provinces, there is no new adjustment in the purchase price.

The price of live pigs in the Southern region today is around 55,000 - 58,000 VND/kg.

* Many financial institutions and livestock experts currently predict that pig prices will increase in the coming time due to the decline in the total pig herd nationwide due to high feed costs, combined with low pig prices from late 2022 and early 2023, making farmers hesitant to restock.

Meanwhile, pork consumption demand is recovering as inflationary pressures ease and the tourism and hospitality sectors continue to recover. In addition, pork prices in Vietnam are also being boosted by the upward trend in pork prices in the Chinese market.

Currently, the price of live pigs in the world's second largest economy has increased to 54,300 VND/kg, approximately the average price in Vietnam.

Providing solutions for sustainable development of the pig farming industry in the coming time, Mr. Nguyen Quoc Dat, Vice President of the Vietnam Livestock Association, stated that whether the livestock industry can develop sustainably or not depends on the market economy and must ensure a balance between supply and demand.

Pig farmers must be aware that pig farming has changed and must be industrialized, closed and circular to improve investment efficiency.

In addition, many solutions are needed to reduce production costs such as investing in breeding animals and increasing the proportion of domestic animal feed. Currently, domestic livestock supply and demand are quite balanced, meeting domestic consumption needs.

It is forecasted that from now until the end of the year, pork prices will stabilize at a level that is satisfactory for both farmers and consumers.

Source