China's pork stock increased last month and the market may beat expectations with balanced supply and demand during the upcoming Chinese New Year holiday, according to Tuesday's press conference on hog production in November.

"The gap between the pork supply and demand has been eased as compared to October's figures. This has laid a solid foundation for accelerating the recovery of pig production next year, while strengthening confidence in the market," said Wang Junxun, deputy director of Animal Husbandry and Veterinary Bureau under the Ministry of Agriculture and Rural Affairs (MARA), during the press conference.

According to Wang, the Spring Festival is the peak season for pork consumption. Limited by pig's natural growth pattern, the supply is still tight.

However, considering the increase of pork imports and the timely delivery of frozen meat from the government reserves as well as commercial inventory, the overall pork supply and demand situation might be better than expected.

Wang also said the production of poultry and mutton will increase this year, which could make up for the pork supply. Therefore, the supply of meat during the Chinese New Year holiday will be guaranteed as a whole.

The Chinese government has implemented support policies and responsibilities, besides specifying tasks for livestock recovery at local levels. The government is also working to prevent and control African swine fever while ensuring that the market steers clear of all instabilities. Thanks to these measures, Chinese farmers are resuming pig farming.

Official data from MARA showed that hog prices had fallen for four weeks in a row by late November. Moreover, the pig herd in 400 counties last month rebounded on a monthly basis for the first time since November 2018, while the number of breeding sows rose 4 percent from a month earlier.