Pig prices continue to decline, the market will improve significantly in the third quarter of 2023

The price of live pigs today, June 2, in the Northern region decreased by 1,000 VND/kg, fluctuating between 57,000-59,000 VND/kg.

Giá heo hơi hôm nay 2/6: n(Nguồn: Meat Deli)

Pig price today June 2: (Source: Meat Deli)

Pig price today 6/2

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

Specifically, Yen Bai province adjusted the transaction price down to 57,000 VND/kg, along with Lao Cai, Nam Dinh and Ha Nam - the lowest in the region.

Live pigs in the remaining provinces are being purchased stably at around 58,000-59,000 VND/kg.

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

* Pig prices in the Central and Central Highlands regions have decreased in some places.

Accordingly, after slightly lowering the price, traders in Quang Nam and Khanh Hoa are buying live pigs at 57,000 VND/kg.

With the same decrease, the price of live pigs in Binh Thuan and Lam Dong is 58,000 VND/kg and 59,000 VND/kg, respectively.

Currently, the price of live pigs in the Central and Central Highlands regions is around 54,000-59,000 VND/kg.

* In the Southern region, the price of live pigs recorded a slight decrease compared to yesterday.

Currently, 58,000 VND/kg is the transaction price of live pigs in Dong Nai, Binh Duong and Tra Vinh after a decrease of 1,000 VND/kg.

Ben Tre and Vung Tau both slightly lowered their prices, currently purchasing at 57,000 VND/kg and 59,000 VND/kg respectively.

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

* VNDirect Securities Company said that last week, the price of live pigs continuously increased due to the decrease in the output of pigs sold off by farmers compared to the first months of the year, and at the same time, the market was concerned about the lack of supply when the number of small-scale farming households in March decreased by 50% compared to the same period in 2021.

Through monitoring the AGMs of listed meat producers, VNDirect found that the leaders of these companies all sent positive messages about the outlook for pork prices. The most difficult times for the meat market took place from the fourth quarter of 2022 to the first quarter of 2023 and the industry's outlook will be more positive from the third quarter of 2023.

VNDirect forecasts that the price of live pigs in the second quarter will increase by 10% compared to the first quarter and continue to improve significantly in the third and fourth quarters, reaching 62,000-65,000 VND/kg thanks to recovering consumption demand and limited supply from small-scale farmers.

VNDirect's analysis department emphasized: "In 2023, we expect the average price of live pigs to increase by 5% compared to 2022, to 59,000/kg."

Source