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Wholesale pork prices keep declining

According to the report of the National Union of Pig Breeders, save for brisket and trimmings, the wholesale pork market has seen a decline in prices within the week of October 10 – 16, 2022.

Wholesale pork prices keep declining
Credit: Istock.com

The average price for live pigs was set at 119.2 rubles per kg, which is 7.15 rubles (5.8%) lower, than the week before. The average price for a half-carcass decreased by 7.92 rubles (4.8%) to 170.22 rubles per kg. Pork leg prices dropped to 232.86 rubles per kg, losing 3.09 rubles (1.3%) over the week.

The decline in prices was driven by two aspects: an increase in pork half-carcass stocks and slumping demand.

“After the launch of a new slaughterhouse in Voronezh region, there was a significant increase in pork half-carcass supplies. Last week saw a growing number of surpluses in this segment, as a number of companies faced deboning capacity cuts due to labor shortages and slumping demand. This week the market moved from the sellers to the buyer’s stage. This led to increased dynamics in live hog prices decline due to the severe overheating, observed in the segment, resulting from the launch of new pig slaughter facilities in the Kursk and Voronezh regions,” explained the National Union of Pig Breeders.

The union also noted a decrease in retail chain orders for the coming week. “This shows low demand from the end consumer, therefore the negative price dynamics should be expected in all segments next week,” concluded the union.

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English version, 21 Oct 2022 16:28
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