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gtja Securities: strong reality, weak expectations, misalignment of pig cycle position and valuation level.
Under weak expectations but strong reality, the current spot price has already led the rise and exceeded expectations. Even if following the spot price, related companies still have room for valuation repair.
China Merchants Securities: How is the excess profit of the pig industry formed?
The profitability of the future pig industry will be lower than each cycle before 2018, roughly ranging from 100 to 150 yuan, but higher than the irrational cycle in 2022.
Due to the bird flu outbreak, Brazil, the world's largest exporter of chicken, has temporarily suspended exports to China and the European Union.
This news also caused a stir in the domestic market. Today, A-share pork and chicken stocks showed unusual activity in the afternoon. Xiaoming Stock surged more than 10%, followed by Huaying Agricultural Development, Hunan Xiang Jia Husbandry, Hunan Zhenghong Science and Technology Development, Shandong Yisheng Livestock & Poultry Breeding, and Shandong Minhe Animal Husbandry.
Hong Kong Stock Concept Tracking | Pig prices rise and costs decrease, the "scissors difference" expands, and many pig companies' profitability recovers. Is the turning point of the cycle here? (Attached Concept Stocks)
According to the sales report released by the pig industry, the recovery of pork prices has brought sustained repair of corporate profitability.
Hong Kong stock market concept tracking | Pig cycle continues to recover, many pig enterprises significantly increase profits in the second quarter (including concept stocks).
With the recovery of the pig cycle in the first half of this year, pig prices have also started to rise and surpassed the highest level of the past three years in June.
China Galaxy Securities: Pig prices resumed upward trend this week. Subsequent profit elasticity may exceed expectations.
Currently, hog prices have entered an upward trend, while cost centers have shifted downward. The elasticity of hog farming profits is expected to exceed expectations. It is recommended to actively invest in the hog farming sector during short-term declines, taking into account the continuous cost reduction of excellent hog enterprises. This round of hog farming profits is expected to exceed market expectations.
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