---
title: "2026: The Toughest Year of the Hog Cycle, Farming Enterprises \"Winter\" Through Multiple Approaches"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281804196.md"
description: "2026 is considered the most challenging year of the hog cycle. On April 3rd, live hog futures prices dropped to 9,370 yuan/ton, and the average spot market price for live hogs fell below 10 yuan/kg, a new low in over a decade. The state has already conducted two rounds of central hog stockpiling to stabilize prices, but current hog prices are below the industry's average cost, leading to widespread losses for farming enterprises. Furthermore, the pace of capacity reduction is slow, and market clearing will take time"
datetime: "2026-04-06T22:59:21.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281804196.md)
  - [en](https://longbridge.com/en/news/281804196.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281804196.md)
generator: "portal-rs"
---

# 2026: The Toughest Year of the Hog Cycle, Farming Enterprises "Winter" Through Multiple Approaches

On April 3rd, the price of the main contract for domestic live hog futures fell to 9,370 yuan/ton, hitting a new low since its listing. Meanwhile, in the spot market, the average price for live hog sales dropped below 10 yuan/kg, reaching a low point not seen in over a decade. Industry insiders view 2026 as the "most challenging year" of recent hog cycles. Against this backdrop, the state has conducted two rounds of central hog stockpiling to support hog prices since the beginning of 2026. Current hog prices have fallen below the industry's average cost line, plunging the farming sector into widespread losses. Unlike in the past, the progress of industry capacity reduction during this downturn in hog prices has been relatively slow, and market clearing will still require time.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**