China’s top pig farmers see sharp fall in profits amid disease epidemic

China’s top pig farmers see sharp fall in profits amid disease epidemic


China’s major pig farmers sharply cut 2018 profit estimates on Monday, after fast-spreading African swine fever hit prices and demand for pork in the world’s largest hog producer.

Muyuan Foods Co. Ltd cut its 2018 net profit forecast to between 500 million yuan ($73 million) and 550 million yuan, down at least 20 percent from an earlier estimate in October, showed a filing to the Shenzhen Stock Exchange.

full story – Reuters