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In September, the group's pig farming enterprises actively slaughtered, and the profitability of Q4 breeding may continue | Industry Trends
1. The pig price continues to rebound, combined with the continued decline in costs, resulting in simultaneous increase in quantity and price of pig enterprises in the third quarter; 2. The average selling price of the group's pig enterprises in September is between 18.6 yuan/kg and 19 yuan/kg, with most pig farms' breeding costs around 14 yuan/kg, demonstrating considerable profitability for breeding enterprises; 3. It is widely believed within the industry that there is still profit potential for pig enterprises in the fourth quarter.
Huaxi Securities: Pig prices continue to be prosperous, benefiting the agriculture sector as a whole.
Pork prices continue to run above the cost line, the fundamental improvement is established, currently self-breeding and purchased piglet breeding profits are considerable, and the current valuation level is relatively low.
Research reports from gf sec: muyuan foods has shown impressive performance in the third quarter, maintaining a "buy" rating.
GF Sec's research reports pointed out that in the third quarter alone, Muyuan Foods (002714.SZ) net income attributable to the mother is 9-10 billion yuan, a year-on-year increase of 860.63%-967.36%, in line with market expectations. The significant growth in company performance is mainly due to the obvious increase in pork prices, the growth of company output, and the continuous decline in breeding costs. It is estimated that the company's complete breeding cost in the third quarter is about 13.7-13.9 yuan/kg, a decrease of 0.4-0.6 yuan/kg compared to the second quarter. The company's costs continue to lead the industry, and with the continuous improvement of production performance, breeding costs are expected to continue to decline, as recorded in investor relations activities.
Leading performance in Q3 exceeded expectations! Pork stocks collectively celebrated, institutions: pork prices are still firm in Q4.
The economic outlook is improving + undervaluation.
Muyuan Foods Expects Up to 967% Jump in Q3 Profit
Makihara Co., Ltd.: Results forecast for the first three quarters of 2024
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