Pig prices continue to fall, when will the decline stop?

The price of live pigs today, October 11, in the Southern region continued to decrease slightly by 1,000 VND/kg, fluctuating between 50,000 - 53,000 VND/kg.

Pig price today October 11: Pig price continues to fall, when will the decline stop? (Source: Pinterest)

Pig price today October 11

* Pig prices in the North have decreased in many localities.

Specifically, after reducing 1,000 VND/kg, Yen Bai and Lao Cai provinces both purchased live pigs at 50,000 VND/kg.

Localities including Nam Dinh , Thai Nguyen, Ha Nam and Vinh Phuc all reduced by VND1,000/kg to VND51,000/kg.

Pig price today in the North is around 50,000 - 53,000 VND/kg.

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

Localities including Thanh Hoa, Khanh Hoa and Ninh Thuan all reduced by VND1,000/kg to VND51,000/kg.

Live pigs in Quang Binh and Binh Thuan were purchased at 52,000 VND/kg, down 1,000 VND/kg.

Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 50,000 - 53,000 VND/kg.

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

In detail, Tra Vinh province adjusted down 1,000 VND/kg to 51,000 VND/kg.

The remaining provinces and cities have stable transactions. Of which, 50,000 VND/kg is the lowest transaction price in the region, continuing to be recorded in Ben Tre.

Pig price in the Southern region today is around 50,000 - 53,000 VND/kg.

* Commenting on the recent trend of live hog prices, a market research expert from the Dong Nai Livestock Association said that the reason was not due to surplus. However, in a short period of time, farmers were afraid of the complicated developments of the epidemic, so they broke up their herds and sold them off. Pigs that were not yet of sufficient weight were sold in large numbers, making the prices even cheaper.

In addition, before the price of pork tended to decrease, some large businesses and farms had the mentality of waiting for the price to increase. Pigs that were ready to be sold were still kept. Now, the large weight is forced to be sold. This type of pig is classified as overweight, and the price is also cheaper than the market level.

"Everyone wants to sell quickly, the market cannot absorb everything so the price drops even more," he said.

Pig prices are expected to recover from late October and early November this year.

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