China Raw Milk Prices Hold Steady Amid Mixed Trends in Livestock and Feed Markets – October 2024
Source: DairyNews.today
In the first week of October 2024, China's agricultural market data reveals varied price movements across livestock products and feed commodities, with raw milk prices remaining stable. The national monitoring of 500 county-level markets highlights increased prices for commercial layer chicks, broiler chicks, and soybean meal, while pork, eggs, chicken meat, beef, corn, finishing pig feed, broiler feed, and layer feed saw declines.
Livestock Products: Beef and Mutton
The average national beef price stood at 67.88 yuan/kg, a minor weekly decline of 0.1% and a substantial year-over-year drop of 18.2%. Major beef-producing provinces, including Hebei, Inner Mongolia, Jilin, Heilongjiang, Shandong, and Xinjiang, reported an average price of 56.22 yuan/kg, down 0.5% from the previous week. Mutton prices remained stable at 70.19 yuan/kg nationally, although they experienced a 10.3% year-over-year decline. Key mutton-producing provinces saw a slight weekly decrease to 64.33 yuan/kg, down 0.1%.
Raw Milk Prices
In leading dairy-producing regions like Inner Mongolia and Hebei, the average raw milk price held steady at 3.14 yuan/kg, consistent with the previous week but showing a year-over-year decrease of 15.8%. The stability in raw milk prices contrasts with fluctuations in other livestock product prices, indicating relative demand consistency in the dairy sector.
Feed Market Dynamics: Corn and Soybean Meal
Corn prices saw a decline, with the national average at 2.43 yuan/kg, down 1.6% from the prior week and a notable 19.8% drop year-over-year. In the primary corn-producing provinces of northeastern China, the price was slightly lower at 2.28 yuan/kg, while in Guangdong, a major consumption hub, the price averaged 2.59 yuan/kg, reflecting a 1.5% decrease from the previous week. Conversely, soybean meal prices edged up by 0.3% to 3.41 yuan/kg, although they remain significantly lower than last year, down 29.4% year-over-year.
These price movements reflect ongoing adjustments in the agricultural markets, with stability in raw milk contrasting broader declines across other feed and livestock products, influenced by supply and demand dynamics as well as broader economic factors. The agricultural sector continues to adapt to these changes, balancing production and pricing strategies in response to evolving market conditions.
The average national beef price stood at 67.88 yuan/kg, a minor weekly decline of 0.1% and a substantial year-over-year drop of 18.2%. Major beef-producing provinces, including Hebei, Inner Mongolia, Jilin, Heilongjiang, Shandong, and Xinjiang, reported an average price of 56.22 yuan/kg, down 0.5% from the previous week. Mutton prices remained stable at 70.19 yuan/kg nationally, although they experienced a 10.3% year-over-year decline. Key mutton-producing provinces saw a slight weekly decrease to 64.33 yuan/kg, down 0.1%.
Raw Milk Prices
In leading dairy-producing regions like Inner Mongolia and Hebei, the average raw milk price held steady at 3.14 yuan/kg, consistent with the previous week but showing a year-over-year decrease of 15.8%. The stability in raw milk prices contrasts with fluctuations in other livestock product prices, indicating relative demand consistency in the dairy sector.
Feed Market Dynamics: Corn and Soybean Meal
Corn prices saw a decline, with the national average at 2.43 yuan/kg, down 1.6% from the prior week and a notable 19.8% drop year-over-year. In the primary corn-producing provinces of northeastern China, the price was slightly lower at 2.28 yuan/kg, while in Guangdong, a major consumption hub, the price averaged 2.59 yuan/kg, reflecting a 1.5% decrease from the previous week. Conversely, soybean meal prices edged up by 0.3% to 3.41 yuan/kg, although they remain significantly lower than last year, down 29.4% year-over-year.
These price movements reflect ongoing adjustments in the agricultural markets, with stability in raw milk contrasting broader declines across other feed and livestock products, influenced by supply and demand dynamics as well as broader economic factors. The agricultural sector continues to adapt to these changes, balancing production and pricing strategies in response to evolving market conditions.
