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MNI BRIEF: China Pork Prices Hit Lowest Since July

MNI (BEIJING)
MNI (Beijing)

Prices for live pigs in China fell by 1.92% m/m to 14.83 yuan/kg during the week ending November 29, reaching the lowest level since July this year, the National Development and Reform Commission said on Monday.

Corn prices fell to 2.70 yuan/kg, down 0.74% m/m.

Local analysts recently told MNI soy imports -- used mainly as animal feed -- will hit 100 million tonnes by year end but may decline slightly next year given government plans to reduce the pig breeding herd from the current 42.1 million sows to 41 million due to overcapacity. (See: MNI: China Food Commodity Import Demand Has Peaked)
MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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