Chart of the Day: Muyuan
Muyuan, China’s largest publicly traded hog producer, reported record hog sales for March at 5.99 million hogs. Average prices remain depressed at 11.67 yuan/kg.
Despite the record hog sales, Muyuan’s net income has barely increased. Compared to March 2021, the company’s hog sales are up 111%, while net income only ticked 5% higher.
Wheat prices fall sharply in recent auction
China’s national wheat auction on April 6 continued to see strong demand although prices fell...