00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Rising grain prices tied to the Iran War are increasing animal feed costs in China,
00:07pressuring pig producers already facing weak demand and low hog prices, according to Reuters.
00:12Since February 28th, soy meal and corn futures have reached multi-month highs on the Dalian
00:18exchange. In March, China's spot prices for soy meal and corn rose by over 200 yuan and around
00:25100 yuan per ton, increasing feed costs by 7% and 4%. Other inputs including amino acids,
00:33fish meal, and vitamins rose between 6% and 77% this month due to the war,
00:39according to an analyst at Shanghai JC Intelligence Company.
00:42Chinese hog producers face rising costs and falling pork prices as hog futures hit 9,980 yuan per ton
00:50and cash prices dropped to 9.69 yuan per kilogram, leaving farmers losing 280 to 350 yuan per pig.
00:59Smaller producers face higher risk as authorities push to reduce overcapacity and stabilize prices.
01:05For all things money, visit Benzinga.com.
Comments