3家公司均提及，生猪销售价格自今年3月份开始不断回升，叠加市场的“二次育肥”热情进一步推高猪价，猪价回暖使得公司上半年业绩向好。Currently, the hog industry has entered a period of stable development, with stable consumer demand.
On the afternoon of September 26, 2024, the special collective roadshow for the Shanghai hog industry in the first half of the year officially commenced.
Since the beginning of this year, the hog farming industry's prosperity has been recovering.
All three companies mentioned that hog sale prices have been continuously rising since March this year, coupled with the market's enthusiasm for 'secondary fattening', further pushing up hog prices. The warming of hog prices has led to positive performance in the first half of the year for the companies.
At the same time, several companies have continued to carry out cost reduction and efficiency improvement work, which has also achieved positive results.
Zhu Zengyong, a researcher at the Beijing Institute of Animal Husbandry and Veterinary Medicine of the Chinese Academy of Agricultural Sciences, believes that since June this year, the hog farming industry has maintained profitability, reaching a profit peak in August, driving continuous revenue growth for breeding enterprises.
The current hog industry has entered a period of stable development, with consumer demand remaining steady.
haitong sec released research reports stating that the recent decline in hog prices since mid-august may be mainly due to the phased concentration of dual-use pigs. The current benchmark supply of hogs is still insufficient, and the short-term concentration of dual-use pigs has led to the decline in hog prices since mid-august. However, considering factors such as the difference in fat standards and seasonality, the concentration of dual-use pigs may also be approaching its end, and hog prices may gradually stabilize and rise. At the same time, the valuation of the hog farming sector is now at a low level.
shanxi research reports point out that in the current phase of rising hog prices, due to a stronger preference within the industry for piglets, the replenishment demand for sows may be weaker than usual in the cycle.
The phased adjustment of the hog farming sector may be coming to an end.
Domestic hog farming related enterprises:
cofco joycome (01610), dekon agr (02419)
Overseas hog farming enterprises: WH Group (00288)
