5/19/2021 iStock: zhaojiankang SHANGHAI/BEIJING, May 19 (Reuters) - China’s live hog futures fell nearly 5% on Wednesday, hitting the lowest level since their January launch, as weak spot prices and expectations of improved production weighed on the market. Live hog futures on the Dalian Commodity Exchange were last down 4.7% at 23,580 yuan ($3,663.94) per tonne. Analysts said large volumes of heavy pigs being sent to slaughter caused the weakness in spot prices, which have fallen sharply since the start of the year. Spot prices were around $18 to $20 per kilogramme on Tuesday. “The market expects that there will be more pigs going forward. Feed sales are pretty good, up from last year and also from the previous month. Most of the demand is from the pig sector,” said Sinolink Futures analyst Wang Xiaoyang.
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