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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.
haitong sec: Holiday pig prices first suppressed and then rose, and the significant widening of the difference in fat price.
The benchmark supply of live pigs depends on the breeding sows and production efficiency, and November and December of 2023 and January of 2024 are the stages with the fastest capacity digestion. The breeding sows also decrease to a relatively low level, while it is also the most severe phase of winter diseases, corresponding to the insufficient benchmark supply in October.
GF Securities: Pork prices in the fourth quarter are expected to continue to be strong, focusing on the recovery of autumn aquatic seedling investments.
During the National Day holiday, the price of pork continued to fluctuate. Considering the significant decline in the number of piglets born in the first half of the year, combined with the traditional peak season for consumption in the fourth quarter, it is expected that pork prices will continue to maintain a strong performance in the fourth quarter.
Has the harsh winter passed? Pig feed demand is now picking up: a frontline salesperson sold 100 tons more in a single month compared to the beginning of the year.
①Affected by the recovery of the breeding market, the demand for first-line pig fodder is trending upwards. Some frontline fodder sales staff have reported: "In September, sales were 100 tons higher than in January."; ② Although pig feed has seen continuous improvement compared to the previous month, there is still a gap compared to the same period last year; ③ According to industry experts, the positive trend in pig feed demand, coupled with low raw material costs, may become a support point for future corporate performance improvement.
Piglet prices 'halved', disagreement on restocking in breeding industry, industry expects pig farming to remain profitable next year | Industry Dynamics
①The price of piglets has plummeted, nearly halving from the highest point this year, with 7KG piglets in some regions falling to 140 yuan each; ② The sentiment of adding pens at the breeding end is now polarized, with some breeders stably adding pens while others are quite cautious; ③ Most breeders and industry experts are optimistic about the overall market outlook for next year, with profitability still being the main trend.
YURUN FOOD: Interim Report 2024
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