Number of hogs in Ukraine increases by 3.1% in June - analysts

MOSCOW. July 4 (Interfax) - Ukraine increased the number of hogs to 5,200 in June, up 3.1% from last year and down 3.4% from 2022, Ukrainian media said, citing the Ukrainian Business Club, which in turn referred to the State Statistics Service.

"Thanks to high purchase prices and cheap feed, the hog farming industry managed to recover in 2022 and 2023," the analysts said.

However, in addition to the regular market changes, such as stabilization of prices for grain and oilseed crops, enterprises have to adapt to current challenges, the analysts said. For instance, rising energy prices and mobilization of employees are forcing farmers to innovate in order to cut costs and increase efficiency, they said.

The average price for live hogs was the lowest in two years in the second half of June 2024 - 46.3 hryvni per kilo with VAT, the analysts said, adding that the same price was recorded for the last time in late April 2022. The price was close to production costs, which made farmers worry. However, the price grew to 55.1 hryvni per kilogram per VAT as early as at the beginning of June.