Pig Prices Jump in China Even as Lockdowns Restrain Demand
- Sow herd has shrunk over 9% from its peak: Everbright Futures
- Lockdowns, dietary shift toward poultry to cap hog price gains
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China’s hog prices are rebounding after a prolonged slump, but it’s probably too early to call it a turning point as demand in the world’s biggest pork consumer faces constraints, including from Covid lockdowns.
Futures on the Dalian Commodity Exchange jumped almost 4% on Monday to their highest close since July for the rolling, most-active contract. Still, prices are down 23% over the past year because of aggressive expansion of the herds after the industry was ravaged by African swine fever.