Hog prices bottomed out in the month of October with an average live weight price of 139 PHP per kg ($2.76/kg), now 157 PHP per Kg ($3.16/kg). Culled sow prices are also on an upward trend, reported Paul Anderson, General Manager for SE Asia at Genesus.

Not all areas in the Philippines have seen increased prices, though. Some of the southern island groups have steady enough prices that they are able to earn just a little bit more than feeding costs.

There are 77,330 metric tonnes of imported frozen pork in cold storage in the Philippines, according to National Meat Inspection Service (NMIS) data. This number is down from 82,068 metric tonnes as of end October.

Filipino pork consumers are now favouring local pork over imported frozen, said the report. This is probably the result of intense marketing efforts made by the local hog groups so as to patronize locally produced vs imported. The tag line is: EAT PINOY PORK.

Feed prices are also on the rise. Corn prices are at an all-time high of 24 PHP per kg ($0.48), reported Genesus, as are wheat prices. The price of soybean meal is already at 55 PHP per kg ($1.09), coco oil and palm oil is at 85 PHP ($1.69). Soybean meal imports from Argentina are expected in January, which should bring formulation costs down.

Looking forward, demand for pork could increase in the coming months as the Philippines lowers Covid-19 restrictions and re-opens to tourism.

Another factor that could impact production is African swine fever. There have been outbreaks in key production regions such as Central Luzon. This, said Genesus, impacted big producers. This month, another outbreak was reported in the province of Marinduque, an island south of Luzon.