Leading global pig breeder Muyuan Foods Group Co. Ltd. (2714.HK; 002714.SZ), announced on Sunday that revenue from its commercial hog sales totaled about 8.52 billion yuan ($1.27 billion) in September, down 6.01% year-on-year. It sold about 6.42 million hogs during the month, up 15.24%, but its average selling price fell 19.57% to 10.36 yuan per kilogram.
The September hog sales volume was down from 7.03 million hogs sold in August, while the latest revenue was also down from 9.25 billion yuan the previous month. The company’s average selling price in September edged up to 10.36 yuan per kilogram from 10.30 yuan per kilogram the previous month. In the first nine months of this year, the company sold about 58.73 million hogs, generating revenue of approximately 76.82 billion yuan.
In its slaughtering business, wholly owned subsidiary Muyuan Meat and its subsidiaries slaughtered 3.02 million hogs in September. The company had 2.97 million breeding sows at the end of the month.
Muyuan’s shares opened higher on Monday in Hong Kong and were up 0.88% at HK$36.72 by the midday break. The stock is down 8.4% over the past six months.
By Lee Shih Ta
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