1: Pig prices have stopped falling, ending a decline that lasted 6 consecutive days
Based on pig price data from 27 provinces in China, the editor of 大畜牧 calculated that the national average pig price on 2026 year 10 month 26 day was 4.67 yuan per jin, unchanged from yesterday. It fell to a tie for the lowest price in over 6 months;
It was only 0.32 yuan above this year's low of 4.35 yuan in 4 month, a rise of 7.4%. It remains far below the same period in 2022-2024, the past 3 years, and is closest to the same period in 2025.
2, mainly stable, with slight increases and decreases
Overall, across China's 27 provinces, 8 provinces saw declines, 3 fewer than yesterday, while 5 provinces saw increases, 1 more than yesterday. Both the increases and decreases were 0.1 yuan.
Nationwide, 25 provinces fell below the 5 yuan mark, including 23 provinces where prices fell below the 5 yuan mark across the board; both figures were the same as yesterday.
By province, Guangdong had the highest price nationwide at 5.5 yuan, followed by Fujian at 5.3 yuan, while Xinjiang had the lowest price nationwide at 4.3 yuan. The difference between the highest and lowest prices nationwide was 1.2 yuan.
3, Zhuochuang Information expects the national market to fluctuate and decline over the coming week.
This week, the average transaction weight of live pigs nationwide continued to rise.
Zhuochuang Information monitored the average transaction weight of live pigs nationwide at 125.41 kilograms, up 0.23% week over week.
This week, average transaction weights rose in most provinces. Only in some areas, where pig diseases increased the share of smaller pigs, did average weights edge down.
Producers were highly motivated to ship hogs, but the market saw insufficient growth in demand. In many areas, weak sales led to involuntary holding of hogs, and the national average weight of hogs shipped continued to rise.
As the average weight of hogs shipped rose, the average weight of hogs arriving at slaughterhouses increased, and the average purchase weight for slaughterhouses rose accordingly.
However, fresh-meat sales were loss-making and processing margins were insufficient; meanwhile, pig diseases occurred in some areas. Low-priced, lighter hogs therefore remained prevalent in the market. To protect profits, slaughterhouses opted to buy at lower prices, so the average purchase weight rose more slowly than the average weight of hogs shipped.
Demand was generally average during the week. Downstream buyers were less willing to purchase, and slaughter volumes showed no significant increase.
Farmers' willingness to send hogs to market remained high, and hog supplies were ample. However, given limited support from end-user demand, most market participants chose to lower prices to sell.
The share of low-priced hogs in the market increased, and downstream buyers mostly opted for lower-priced purchases. The actual transaction price center for live hogs moved lower during the week.
Zhuochuang Information expects the national market to fluctuate downward over the coming week.
The average hog price may decline week on week over the coming week. In the first half of the second week ahead, as the month-end and start of the month coincide, supply may briefly tighten, pushing prices up slightly; in the latter part of the week, hog supply will gradually increase, and prices may edge down.
Dadi Futures believes that current market performance has upended the earlier optimistic expectation that capacity reduction would translate into a contraction in market hog supply. The large supply base of market hogs remains the key constraint for the rest of this year.
The continued increase in liveweight at slaughter currently reflects capacity being shifted to a later date. Supply is increasing while demand is weak, and there are few effective positive factors in the short term, so the market will mainly continue to absorb the pressure.
In the medium term, seasonal demand such as that for cured meat is still expected. Hog prices may undergo a temporary adjustment, but the underlying supply volume, high slaughter weights, and frozen-product inventories are expected to weigh on hog prices in the fourth quarter.