... No.2 hog producer Jiangxi Zhengbang Technology Co Ltd said it will post a loss of up to 1.45 billion yuan for the first half because of pressure from falling hog prices. And New Hope Liuhe, China's fourth-largest hog producer, said it expects net losses of up to 3.5 billion yuan in the first half…

 

 

New Hope Liuhe : hog farms, heavy pigs drive China pork output to best Q2 in at least 7 years

 

Reporting by Emily Chow and Dominique Patton; Editing by Jacqueline Wong and Muralikumar Anantharaman, Reuters

via MarketScreener - 07/14/2021

 

SHANGHAI, July 15 (Reuters) - China's second-quarter pork production surged to its highest in at least seven years, official data showed on Thursday, after producers launched thousands of new breeding farms last year to rebuild a hog herd decimated by the African swine fever...

 

... Sales data from 16 listed hog producers showed they produced 42.8 million hogs for slaughter in the first half, an increase of more than 100% over the prior year, said Boya Consulting in a report on Wednesday.

 

But that surge in volume pressured live hog prices, which shed about 65% from January to June, leaving many with significant losses for the period...

 

... No.2 hog producer Jiangxi Zhengbang Technology Co Ltd said it will post a loss of up to 1.45 billion yuan for the first half because of pressure from falling hog prices.

 

And New Hope Liuhe, China's fourth-largest hog producer, said it expects net losses of up to 3.5 billion yuan in the first half.

 

"In 2020, companies boldly expanded, and in the first half the live hog production capacity was gradually released. It is difficult to brake in the short-term," said the Boya report...

 

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