Muyuan Foods August Hog Sales Revenue Falls 21.9% Year on Year
Muyuan Foods reported August sales of 7.03 million hogs, up 0.42% year on year, with revenue of RMB 9.254 billion, down 21.9%. The average selling price fell 23.76% to RMB 10.30 per kilogram, reflecting market volatility. Its subsidiary slaughtered 2.818 million hogs in the same period.
Muyuan Foods announced on September 7 that its August production and sales data showed the company sold 7.03 million commercial hogs during the month, an increase of 0.42% from the same period last year. The average selling price of commercial hogs was RMB 10.30 per kilogram, down 23.76% year on year, while sales revenue from commercial hogs reached RMB 9.254 billion, a decrease of 21.9%.
The company attributed the significant year-on-year declines in hog selling price and revenue to fluctuations in the live hog market.
During the same period, Muyuan's wholly owned subsidiary Muyuan Meat Food Co. , Ltd. and its subsidiaries slaughtered 2.818 million hogs.