HK Stock Market Move | Muyuan Foods Group (02714) fell nearly 4% again. The company has already completed more than half of its cost reduction target. The full year slaughter volume is expected to increase by up to 20%.

Muyuan Foods Group (02714) fell by nearly 4% again, hitting a low of HK$28.32 in intraday trading, setting a new record low since its listing. As of the time of publication, it fell by 3.93% to HK$28.32, with a trading volume of HK$38.3972 million. On the news front, Muyuan Foods Group's Chief Legal Officer Yuan Hebin stated that the company has achieved a cost reduction target of "average cost of 600 yuan per pig" set for 2022, with a cost reduction of 323 yuan per pig by the end of May. There is still a gap of 277 yuan per pig from the target. The company is improving labor efficiency, material efficiency, and refining management, with further room for cost reduction. It is reported that the slaughter volume reached 14 million pigs from January to May this year, and it is expected that the annual slaughter volume will increase by 20% in 2026. According to Sublime China Information, as of June 15th, the average monthly price is 9.50 yuan per kilogram. Although the pig prices were supported by the Dragon Boat Festival holiday, the demand is currently in the traditional off-season, making it difficult for pig prices to rise. The Ministry of Agriculture and Rural Affairs and related departments of the National Development and Reform Commission organized a symposium for some major pig-producing provinces and large-scale pig farming enterprises to analyze the current situation of pig production, guide localities and enterprises to carry out regular and precise regulation, and promote pig prices to return to a reasonable level as soon as possible.