China: Livestock Product and Feed Prices in Early August 2024
Source: DairyNews.today
In the second week of August 2024, market monitoring data from 500 county-level markets and collection points across the nation revealed mixed trends in the prices of livestock products and feed. While pork and poultry prices experienced an uptick, other key commodities like beef, lamb, soybean meal, and various feeds showed a decline. Notably, the prices of raw fresh milk and corn remained stable, indicating a steady market for these essential products.
Beef and Lamb Price Trends
The national average price for beef stood at 68.37 yuan per kilogram, reflecting a modest 0.2% decline from the previous week and a significant 16.2% drop compared to the same period last year. Major beef-producing provinces, including Hebei, Inner Mongolia, and Shandong, reported an average price of 57.18 yuan per kilogram, a slight 0.3% decrease week-on-week.
Similarly, the average national price for lamb was 70.34 yuan per kilogram, marginally down by 0.1% from the prior week and 9.8% lower year-on-year. In the leading lamb-producing regions such as Hebei and Xinjiang, the average price remained steady at 64.48 yuan per kilogram, showing no change from the previous week.
Stability in Raw Fresh Milk Prices
Raw fresh milk prices in major dairy regions like Inner Mongolia and Hebei held firm at 3.21 yuan per kilogram, unchanged from the previous week. However, this stability comes in the context of a notable 14.6% decrease year-on-year, suggesting underlying pressures in the dairy sector.
Feed Market Dynamics
Corn prices, a critical component of livestock feed, maintained stability at 2.58 yuan per kilogram nationally, though this represents a 14.3% year-on-year decrease. In the three northeastern provinces, a key corn-producing area, prices remained constant at 2.40 yuan per kilogram, while in Guangdong, a significant consumption region, corn prices dipped by 0.4% to 2.72 yuan per kilogram.
Soybean meal, another essential feed ingredient, saw a 0.9% decline from the previous week, with the national average price at 3.46 yuan per kilogram. This marks a substantial 24.9% decrease compared to the same period last year, reflecting broader market shifts.
The livestock and feed markets in early August 2024 displayed varied performance, with certain segments like beef and lamb facing downward pressure, while pork and poultry enjoyed price increases. The steady prices of raw fresh milk and corn suggest a balanced demand-supply scenario, although year-on-year comparisons highlight significant declines, indicating potential challenges ahead for producers and consumers alike.
The national average price for beef stood at 68.37 yuan per kilogram, reflecting a modest 0.2% decline from the previous week and a significant 16.2% drop compared to the same period last year. Major beef-producing provinces, including Hebei, Inner Mongolia, and Shandong, reported an average price of 57.18 yuan per kilogram, a slight 0.3% decrease week-on-week.
Similarly, the average national price for lamb was 70.34 yuan per kilogram, marginally down by 0.1% from the prior week and 9.8% lower year-on-year. In the leading lamb-producing regions such as Hebei and Xinjiang, the average price remained steady at 64.48 yuan per kilogram, showing no change from the previous week.
Stability in Raw Fresh Milk Prices
Raw fresh milk prices in major dairy regions like Inner Mongolia and Hebei held firm at 3.21 yuan per kilogram, unchanged from the previous week. However, this stability comes in the context of a notable 14.6% decrease year-on-year, suggesting underlying pressures in the dairy sector.
Feed Market Dynamics
Corn prices, a critical component of livestock feed, maintained stability at 2.58 yuan per kilogram nationally, though this represents a 14.3% year-on-year decrease. In the three northeastern provinces, a key corn-producing area, prices remained constant at 2.40 yuan per kilogram, while in Guangdong, a significant consumption region, corn prices dipped by 0.4% to 2.72 yuan per kilogram.
Soybean meal, another essential feed ingredient, saw a 0.9% decline from the previous week, with the national average price at 3.46 yuan per kilogram. This marks a substantial 24.9% decrease compared to the same period last year, reflecting broader market shifts.
The livestock and feed markets in early August 2024 displayed varied performance, with certain segments like beef and lamb facing downward pressure, while pork and poultry enjoyed price increases. The steady prices of raw fresh milk and corn suggest a balanced demand-supply scenario, although year-on-year comparisons highlight significant declines, indicating potential challenges ahead for producers and consumers alike.
