Hog price insurance is an effective means to stabilize the price under market conditions and achieve the goal of "separation of price and subsidy". However, the current pilot hog price insurance in Sichuan province is still constrained by a host of internal and external factors. With the SWOT analysis tool, we made a comprehensive analysis of the specific situation of the hog price insurance in Sichuan province from aspects of strengths, weeknesses, opportunities and threats. We believe that, development of hog price insurance enjoys advantages of endogenous demand from hog raisers and local government, but it also faces disadvantages and threats from lack of support for hog futures market, imbalanced financial subsidies and excessive subsidy pressure. Therefore, it is recommended that Sichuan Provincial Government improve the price monitoring system and accelerate the development of hog futures market in the medium term, and build a market risk and catastrophe dispersion system in the long run.