10月进口猪肉成交活跃度下降，价格缓跌为主

Core Viewpoint - The overall trend of imported frozen pork prices in China is showing a slight decline as of October 2025, primarily due to the continuous decrease in domestic fresh and frozen pork prices [1][3]. Price Trends - As of October 24, 2025, the average transaction price for imported pork products is as follows: - Foreleg: 17,416.67 RMB/ton, down 1.88% from the beginning of the month - Neck bone: 9,500 RMB/ton, unchanged - Ribs: 33,287.18 RMB/ton, down 2.21% - Pig heads: 10,600 RMB/ton, down 5.50% [1][3]. Domestic Pork Prices - Domestic fresh pork prices have rapidly declined, with the price of fresh No. 2 and No. 4 pork dropping to 17.38 RMB/kg by mid-October, reflecting decreases of 7.33% and 7.54% respectively from the start of the month. - By late October, the average transaction prices were: - Fresh No. 2 pork: 17.71 RMB/kg, down 5.56% - Fresh No. 4 pork: 17.75 RMB/kg, down 5.54% - Frozen No. 2 pork: 17.72 RMB/kg, down 5.03% - Frozen No. 4 pork: 17.76 RMB/kg, down 5.30% [3]. Market Dynamics - The price advantage of imported products is diminishing, leading to a cautious purchasing approach from downstream customers, who are reducing their procurement of imported products. - The sales speed of imported frozen pork is slowing down, with most imported pork products experiencing price declines. However, limited port inventory and the intention of importers to maintain prices have resulted in smaller price drops compared to domestic pork [3][5]. Future Outlook - For the fourth quarter, the import volume of pork and pork by-products is expected to be limited, with small port inventories and manageable sales pressure for importers. - The demand during the peak consumption season in November and December may lead to a slight rebound in domestic pork prices, but overall levels are expected to remain low, indicating weak purchasing intentions for imported frozen products [5][6]. - It is anticipated that imported pork prices will continue to decline in November and December, but the extent of the decline is expected to be limited [6].