Swine production expected stable this year in China

Average swine prices in China during 2024 were higher than in 2023, while production costs were lower, enabling higher profits across the swine breeding industry, said the USDA GAIN report about pork projections in China. Some swine producers started to expand swine production by restocking more sows. However, the expansion was slower than USDA estimated in the last annual report. The main reason for the moderate pace is the companies’ financial situation. Swine producers operated at a loss for most of 2023 and during the beginning months of 2024. Some large-scale swine facilities have cancelled investment projects to add increased production capacity.

USDA revised the swine production estimate for 2024 upward (704,970 thousand head). The new estimate is still 1.7% lower than the 2023 swine production estimate (717,249 thousand head). The main reason for this revision is that production did not decline as much as forecasted, due to an average increase in piglets weaned per sow per year in 2024.

In 2025, production is estimated to increase marginally to 705,000 thousand head.

Pig prices in China dropped from a high of almost CNY 21 per kilo in mid-August to 15,39 in mid-March, a contraction of 26% to the lowest level in 10 months. In dollar terms the price is 2.12 per kilo, also the lowest in 10 months.

Source: Pig333.com