Pig price today November 26, 2024: Mixed increase and decrease from 1,000 - 2,000 VND/kg

Pig price in the North

The price of live pigs today (November 26, 2024) in the Northern region fluctuated slightly. Some provinces such as Thai Nguyen, Vinh Phuc and Tuyen Quang recorded a price decrease of 1,000 VND to 2,000 VND/kg.

Of which, Thai Nguyen is the only province with the strongest decrease, up to 2,000 VND/kg.

However, the price of live pigs in Thai Binh suddenly increased by 1,000 VND/kg, reaching 63,000 VND/kg, the highest price in the region.

In general, the price of live pigs in provinces and cities in the Northern region currently fluctuates from 61,000 VND to 62,000 VND/kg.

Pig price in Central Highlands region

In the Central Highlands region, the price of live pigs today (November 26, 2024) remained stable in the range of 59,000 VND to 62,000 VND/kg.

In particular, Dak Lak province continues to maintain the lowest price in the country at 59,000 VND/kg.

The remaining localities in this region all have live pig prices ranging from 60,000 VND to 62,000 VND/kg.

Pig price in the Southern region

In the Southern region, the price of live pigs today (November 26, 2024) decreased slightly in the two provinces of Hau Giang and Dong Thap, each province decreased by 1,000 VND/kg, bringing the price down to 61,000 VND/kg.

Currently, the price of live pigs in this area ranges from 61,000 VND to 63,000 VND/kg.

In particular, provinces such as Long An, An Giang, Kien Giang, Ca Mau, Soc Trang and Can Tho City are selling live pigs at the highest price, at 63,000 VND/kg.

In the third quarter of 2024, the price of live pigs fluctuated around 65,000 VND/kg, sometimes reaching nearly 70,000 VND. Thanks to that, most pig farming businesses reported strong profit growth during this period.

Dabaco (DBC) recorded a net profit of VND312 billion in the third quarter, 25 times higher than the same period last year. Profits increased mainly due to the high price of live pigs due to the shortage of supply after the African swine fever outbreak and the impact of natural disasters.

BAF Vietnam Agricultural Company (BAF) achieved a net profit of VND60 billion in the third quarter, up 54% year-on-year. Revenue from pig sales increased 2.3 times to VND856 billion, accounting for 65% of total revenue thanks to strong sales volume. BAF also benefits from self-producing animal feed with lower raw material prices.

Hoa Phat's (HPG) agricultural sector achieved revenue of VND1.8 trillion, up 21%, and after-tax profit of VND281 billion, up 80%.

Vissan Company (VSN) earned 33 billion VND in profit, up 32%, thanks to good cost control.

Masan Meatlife (MML) reported its first profit after two years of losses thanks to increased revenue from processed meat and optimized production costs.

Hoang Anh Gia Lai (HAG) recorded a net profit of VND332 billion in the third quarter, up 4%. However, revenue from pork sales decreased by 52%, reaching only VND234 billion, while the fruit segment accounted for a larger proportion with revenue of VND912 billion, down 11%.

According to experts, the price of live pigs is expected to remain above VND60,000/kg until the end of 2024 because the supply of pigs has not yet recovered, while herd restoration takes 5-6 months. Industrial livestock enterprises are expected to continue to benefit from this situation.

The Animal Husbandry Law (effective from 2025) requires the relocation of unsuitable small-scale livestock farms, helping large enterprises reduce competition and expand market share. Companies such as Dabaco and BAF Agriculture are expected to benefit greatly from this trend.

It is forecasted that the market share of professional livestock farming will increase from 30% to 50-60% thanks to the advantages of modern enterprises. The market share of households will decrease due to diseases and stricter regulations, creating conditions for large companies to develop sustainably.