Shares in China's leading pig producers have soared to record levels despit...
BEIJING - Shares in China’s leading pig producers have soared to record levels despite one of the worst disease outbreaks in years, as investors bet on tightening pork supplies and strong government support for leading producers.
Livestock shares initially slid on the early outbreaks in August and September. But they have climbed since November, even as outbreaks continued and as transport curbs on infected provinces hit prices and hurt profits at most producers. The share price gains come even as most companies have forecast a plunge in earnings for last year. In a preliminary report, Muyuan said its 2018 net profit slid 78 percent to 520.2 million yuan , after prices fell partly because of African swine fever.
Large players with low-cost modern farms that are better able to resist disease are expected to reap good profits.
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