立华股份5月份猪鸡同比“量升价跌” 降本增效仍是主旋律

Core Viewpoint - Lihua Co., Ltd. reported a decline in average sales prices for both yellow feathered chickens and pork in May 2023, while sales volumes increased, indicating a "volume up, price down" scenario [1][2]. Sales Performance - In May, Lihua sold 47.71 million meat chickens, generating sales revenue of 1.118 billion yuan, with an average sales price of 10.67 yuan/kg, reflecting a year-on-year decrease of 20.96% in price but a volume increase of 15.03% [1]. - For pork, Lihua sold 127,700 pigs in May, with sales revenue of 241 million yuan and an average price of 14.87 yuan/kg, showing a year-on-year price decline of 9.22% but a volume increase of 36.29% [2]. Market Analysis - Analysts noted that the yellow feathered chicken market is experiencing low price fluctuations due to seasonal demand and increased supply capacity, leading to short-term price pressure [1][2]. - The pork market is currently in a phase of ample supply and declining prices, with the overall trend showing an "M-shaped" price movement throughout May [3]. Future Outlook - Analysts predict that yellow feathered chicken prices will stabilize with potential minor fluctuations, but significant price increases seen in previous years are unlikely to recur [2]. - The pork market is expected to maintain profitability for producers, although some small-scale farms are accelerating the culling of sows due to market conditions [3]. Cost Management - Companies are focusing on cost reduction and efficiency improvements, including enhancing breeding rates and lowering feed conversion ratios to mitigate price volatility risks [3].