China’s Ministry of Agriculture recently reported that pork prices eased for the second consecutive week, following 10 weeks of gains. Even with pork prices staging a July-August recovery, average prices were still down 7 percent year-over-year – averaging $1.10 per pound, which is basically in line with price levels from two years ago.
Ag news outlet Boyer.cn reports that relatively weak pork consumption, state reserves of pork flowing into the market in some regions and wet weather have combined to put downward pressure on hog prices. China piglet prices had been steady recently, but declined last week to $1.81 per pound, which is 18 percent lower than a year ago. Wholesale prices for imported pork strengthened in August but have trended lower this month.