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How to deal with the strong reality and weak expectations of pork prices according to Changjiang Securities?
Pork prices are showing strong present reality and weak expectations. A comprehensive analysis of capacity digestion, second-child policy, and pressure from raising pigs, this round of price increase is mainly driven by supply and demand relationship.
Swhy Research: Pig prices hit new highs, grasp the profits of livestock and poultry breeding, pay attention to the bottom of the industry and the transformation of seed industry.
Under weak demand and expectations, Swhy research believes that the supply side has a "expectation gap" which is the core reason for the strong performance of pig prices in this round, exceeding the main expectations of the industry and the market.
Wens Foodstuff Group (300498.SZ): The completed pig farm has a production capacity of about 46 million heads.
Wens Foodstuff Group (300498.SZ) stated on the investor interaction platform on August 13 that the company's existing sow farms have a completed capacity of approximately 46 million heads (that is, when the company's sow farms are fully loaded, the expected output of commodity piglets according to normal production performance is about 46 million heads). The company's sales target for pork (including hogs and fresh meat) in 2024 is 30-33 million heads.
Open Source Securities: Pig prices start to rise rapidly, and the supply of live pigs is expected to continue to be tight in the fourth quarter.
During the hot season from July to August, the consumption of fat pigs is low, but there is still a high premium for fat pigs reflecting the tight supply of market hogs. It is expected that in the future market, as the temperature gradually decreases and the premium for fat pigs drives up, the average weight of market hogs may gradually increase.
Higher Pork Prices Drive Stronger-than-Expected Rise in China's July Consumer Prices
Wens Foodstuff Group Posts Higher Chicken, Pig Sales Revenue in July
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