Prices for pigs has bounced back following the government's subsidized initiatives, the NDRC, the nation's top economic planning agency, said Wednesday.

The average hog price reached 12.79 yuan ($2.1) per kilo by May 15, marking the third week of a rising trend.

The hog-to-corn price ratio, a major indicator of the industry's profitability, hit 5.33:1 by May 15, up from under 6:1 in early March, the break-even point for farmers, according to the NDRC.

Due to the dumping of dead pigs into Shanghai's Huangpu River and seasonal factors, hog prices have fallen sharply since January.

The hog-to-corn price ratio stayed under 6:1 for four weeks since early March.

The NDRC suggested farmers watch the market closely and adjust their production plans to restore balance to the industry, after widespread fluctuations.