China Hog, Pork market China’s live hog prices continued to drift downward last week, averaging 12 to 13 percent lower than a year ago at 13.78 RMB/kg ($1.01 per pound) and 20 percent lower than the 2013 peak in late January. Prices are following a seasonal trend similar to 2012 and 2010, though it is important to note that prices are still 37 percent higher than in 2010. Based on historical trends, prices should stabilize in the coming weeks. Qingming Festival in early April could help boost meat consumption but plentiful hog and pork supplies will likely continue to pressure the market. With the hog/corn price ratio falling below its profitability indicator of 6:1 during the second week of March and now drifting closer to 5.5:1, the government could soon announce frozen pork reserve purchases to help stabilize prices. (Source: Boyar) China’s piglet prices ($1.95 per pound, -18.5 percent) and pork prices ($1.72 per pound, -8 percent) have also drifted lower compared to last year. Beef and poultry prices remain higher than a year ago but have also started to drift lower over the past five weeks. Beef prices ($4.17 per pound) are up 36 percent from last year but down 2 percent from a recent all-time high. Broiler prices ($1.30 per pound) are up 5 percent from last year but 4 percent below the recent peak.