公司前三季度利润主要由第三季度贡献，公司预计Q3盈利90亿元-100亿元，同比增长860.63%-967.36%。牧原股份在业绩预报中称，扭亏为盈主要原因为报告期内公司生猪出栏量、生猪销售均价较去年同期上升，且生猪养殖成本较去年同期下降。Benefiting from the rebound in hog prices and the decrease in breeding costs, Muyuan Foods expects to turn losses into profits in the first three quarters, with net income exceeding 10 billion; The profits of Muyuan Foods in the first three quarters are mainly contributed by the third quarter, with the company expecting a profit of 9-10 billion yuan in Q3; Several industry insiders predict that hog prices are expected to remain relatively high in the fourth quarter, and the profitability of breeding companies may continue.
Finance Associated Press October 9th (Reporter Zhang Chenjing) With the recovery of hog prices, the profitability of breeding companies is gradually improving. Today, leading hog company Muyuan Foods (002714.SZ) announced that it is expected to achieve a net income of over 10 billion yuan in the first three quarters.
According to the performance forecast, Muyuan Foods expects a net income of 10-11 billion yuan attributable to the shareholders of the listed company in the first three quarters of 2024, turning losses into profits year-on-year. In the same period last year, the company lost 1.842 billion yuan.
The company's profits in the first three quarters are mainly contributed by the third quarter, with the company expecting a profit of 9-10 billion yuan in Q3, an increase of 860.63%-967.36% year-on-year. Muyuan Foods stated in the performance forecast that the main reasons for turning losses into profits are the increase in the company's hog sales volume, the average price of hog sales compared to the same period last year, and the decrease in hog breeding costs compared to the same period last year.
The performance of hog farming enterprises is closely related to hog prices. Muyuan Foods' hog sales volume and prices both rose in 2024. According to Muyuan Foods' latest monthly sales report, the company sold a total of 50.144 million hogs in the first three quarters, a 6.67% increase year-on-year, with sales revenue of 95.35 billion yuan, an 18.13% increase year-on-year. The average hog slaughtering price in September was 18.65 yuan/kg, a 17.89% increase from the same period.
At the same time, the decline in the price of fodder grains has reduced the breeding costs of the company, expanding profit margins. Muyuan Foods said in a recent survey: "From the beginning of the year to now, the complete breeding cost of the company has been continuously decreasing, reaching around 13.7 yuan/kg in August. With the gradual manifestation of the previous decrease in feed raw material prices in breeding costs and the continuous improvement of production indicators, the company is confident in achieving the cost target of 13 yuan/kg by the end of the year. The hog farming industry has now entered a stage of quality improvement, with practitioners shifting from pursuing scale growth to enhancing the quality of development. While the company focuses on steady growth, it also pays more attention to reducing the average cost per hog."
It is worth noting that the upward trend in hog prices and substantial profits in the third quarter did not stimulate a large-scale increase in industry capacity, reflecting that the breeding sector is still under financial pressure. Industry insiders are cautiously optimistic about the future, expecting hog prices to remain relatively high in the fourth quarter, and the profitability of breeding companies may continue.
