China's pig market has staged a short-term rebound: the national average price
for crossbred live hogs rose from 9.47 yuan/kg on June 26 to 11.06 yuan/kg on
July 6, a 10-day consecutive gain of 1.59 yuan/kg (+16.8%), returning above 10
yuan/kg after roughly four months. Discounted prices for culled sows fell
sharply. Authorities have again intensified calls to accelerate herd reduction.
Market participants are debating whether the cycle has reached a 'super bottom'
and the related investment opportunities. On July 6 the Shenwan Agriculture,
Forestry, Animal Husbandry & Fishery index rose 2.57%; sector names were broadly
higher — Juxing Agriculture hit the daily limit, New Hope +7.52%, Tianbang Foods
+6.61%, with Wens and Muyuan also up.
