Lowest live pig price is 54,000 VND/kg, market unlikely to increase strongly

The price of live pigs today, June 3, in the Central, Central Highlands and Southern regions decreased by 1,000 VND/kg, fluctuating between 54,000 - 60,000 VND/kg.

Pig price today June 3: Lowest pig price is 54,000 VND/kg, market unlikely to increase strongly. (Source: Vietnambiz)

Pig price today 3/6

* Pig prices in the Northern region decreased slightly.

Specifically, Bac Giang province adjusted the price of live pigs down by VND1,000/kg to VND58,000/kg - equal to localities including Hung Yen, Phu Tho, Vinh Phuc, Ninh Binh and Tuyen Quang.

Live pigs in the remaining localities are traded at 57,000 VND/kg and 59,000 VND/kg.

Today's live pig price in the North is around 57,000 - 59,000 VND/kg.

* The live pig market in the Central and Central Highlands regions decreased by 1,000 VND/kg.

Accordingly, traders in Dak Lak province traded at 56,000 VND/kg after lowering the price.

After a reduction of VND1,000/kg, localities including Nghe An, Ha Tinh and Ninh Thuan are purchasing live pigs at VND57,000/kg.

Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 54,000 - 60,000 VND/kg.

* The live pig market in the Southern region decreased by 1,000 VND/kg.

Specifically, 57,000 VND/kg is the purchase price in Binh Duong province, down 1,000 VND/kg. After the price reduction, traders in Vung Tau are trading at 58,000 VND/kg.

Live pigs in Vinh Long province were traded at VND59,000/kg, down VND1,000/kg. The remaining localities did not record any new fluctuations.

The price of live pigs in the Southern region today is around 56,000 - 60,000 VND/kg.

* African swine fever is a challenge for livestock companies, especially small-scale livestock farming.

In a recent updated report, Vietnam Bank for Investment and Development Securities (BSC Research) said that according to statistics, in the first 4 months of the year, the whole country detected 104 outbreaks of African swine fever in 26 provinces and cities, with a scale of over 4,073 pigs infected, dead and destroyed.

The scale of the epidemic in the first 4 months of this year is equivalent to 20.4% of the number of detected African swine fever outbreaks and 18.9% of the number of sick and culled pigs in the whole year of 2022. In particular, Vietnam is one of the countries in the region where the epidemic broke out earliest and strongest in Asia.

The proportion of small-scale farmers, which accounted for 70% of the total herd in Vietnam before, will decrease to 50% by 2022. The trend of small-scale farmers shrinking will continue in 2023 due to much higher farming costs than large enterprises, coupled with sharp declines in selling prices, causing them to incur losses.

In the coming time, BSC Research also believes that the price of live pigs may recover to 60,000-65,000 VND/kg in the second half of this year due to reduced supply and more stable demand. However, BSC sees that the price of pigs will hardly increase sharply to 70,000-80,000 VND/kg as in the previous period.

Source