Bord Bia’s China office reports a 2.6% weekly fall in Chinese live hog prices to CNY 11.84/kg, the equivalent of €1.69/kg.

This brings the monthly fall to 6.1% and volume sales are reduced due to a combination of a natural fall after the Chinese new year combined this year with further COVID-19 outbreaks, which is further hampering demand.

Difficulties have been added to with shutdowns in some areas hampering production and transport of pigmeat internally.

South American beef exporters to China are also reporting similar concerns.

WBR reports that exporters are receiving lower bids from Chinese buyers at up to 10% lower than recent weeks.

This has been added to further with the Brazilian currency strengthening, reaching BRL5.40 to €1 this week.

This makes Brazil’s beef price close to €4.10/kg even though prices locally in Brazil are steady.