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· China's hog prices to extend rebound in near future - official
· China to intensify efforts to avoid drastic fluctuations in hog prices
China's hog prices to extend rebound in near future - official
Reporting by Jenny Su, Hallie Gu and Dominique Patton; Editing by Himani Sarkar, Reuters
19 July 2021
BEIJING, July 19 (Reuters) - China's hog prices will continue to rebound in the short term, an official from the country's state planner said on Monday, after a decline in the number of pigs born at the start of the year.
The number of hogs slaughtered in July and August is seen declining to some extent, Wan Jinsong, the head of the price department under the National Development and Reform Commission, told reporters, with fewer pigs born in January and February.
"We expect live hog prices may continue to rebound in stages for a period of time," said Wan.
China's hog prices have plunged this year, confounding expectations in the market that they would stay high on a continued shortage caused by disease.
Production of piglets fell at the start of the year after a severe wave of disease, including new strains of African swine fever as well as other pig viruses, hit farms hard during the winter months.
However, the disease outbreaks had the effect of pushing up the number of pigs being sent to slaughter, pressuring prices.
The fall in prices in turn caused further panic slaughtering by farmers...
China to intensify efforts to avoid drastic fluctuations in hog prices
via China.org.cn (China) - July 19, 2021
China's top economic planner said Monday that it would work with related departments to intensify regulatory measures to avoid drastic ups and downs in hog prices when necessary.
Since the beginning of the year, hog prices in China have fallen sharply due to a significant improvement in supply and the decline in demand, prompting authorities to step in with multiple measures to stabilize the market.
In June alone, the National Development and Reform Commission (NDRC) had twice issued warnings for an excessive slump in hog prices, alerting pig farmers to adjust their plans to stabilize supplies.
The NDRC has also started to purchase pork to replenish the reserves at both the central and local levels, as an index monitoring pork prices has dropped below a warning level.
"The excessive drop in prices of live pigs has been initially curbed as the price has rebounded significantly since late June," said Wan Jingsong, an official with the NDRC.
The current price has recovered by more than 15 percent from the previous decline, Wang said, predicting that the trend will sustain for a while...