Chinese pig producer Muyuan Foods saw its H1 2019 losses increase to $21.95m (CNY155.7m) because of the outbreak of African swine fever. The country's second largest pig-producing company's losses climbed from CNY78.7m YoY, as Q1 2019 hog prices fell amid widespread culling to prevent the disease's transmission. However, live pig prices have continued to rise since June 2019 as a result of supply-side shortages, reaching record levels in August. Meanwhile, Muyuan's revenue and the number of hogs sold both experienced a YoY boost in H1 2019 thanks to the firm adding new farms to its portfolio.
Chinese pig producer Muyuan Foods saw its H1 2019 losses increase to CNY155.7m ($21.95m) because of the outbreak of African swine fever. The country's second largest pig-producing company's losses climbed from CNY78.7m YoY, as Q1 2019 hog prices fell amid widespread culling to prevent the disease's transmission. However, live pig prices have continued to rise since June 2019 as a result of supply-side shortages, reaching record levels in August. Meanwhile, Muyuan's revenue and the number of hogs sold both experienced a YoY boost in H1 2019 thanks to the firm adding new farms to its portfolio.