Core Viewpoint - The Hong Kong dairy stocks have rebounded after a period of decline, with several companies showing positive price movements, although the overall dairy price remains below cost levels, indicating ongoing industry challenges [1]. Group 1: Market Performance - Yurun Dairy increased by 4%, Ecological Dairy by 3.77%, Modern Dairy by 2.5%, China Shengmu by 1.5%, and China Feihe by 1.46% [2]. - The rebound in stock prices is attributed to pre-holiday inventory buildup and increased demand for student milk production [1]. Group 2: Industry Conditions - Despite the short-term support for milk prices due to holiday factors, the trend of capacity reduction in the dairy industry continues [1]. - The overall milk price remains below the cost line, leading to ongoing industry losses and financial pressures from silage [1]. - The number of dairy cows decreased by 0.18% month-on-month in September, following a 0.2% decline in August, with a cumulative reduction of approximately 8% [1]. Group 3: Future Outlook - The capacity reduction trend may be nearing its end, and a turning point in the milk price cycle is anticipated [1].
港股异动丨乳制品股反弹 优然牧业涨4% 中国飞鹤涨1.5% 机构指奶价拐点仍可期