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Cost reduction needs of the feed industry in the second half will be a good market

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Cost reduction needs of the feed industry in the second half will be a good market

Categories:行业动态
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Time of issue:2010-10-26
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(Summary description)As a link to the farming and aquaculture industry feed industry, the first half of 2010 can be described as "painful six months."

Cost reduction needs of the feed industry in the second half will be a good market

(Summary description)As a link to the farming and aquaculture industry feed industry, the first half of 2010 can be described as "painful six months."

Categories:行业动态
Author:
Origin:
Time of issue:2010-10-26
Views:0

Information

As a link to the farming and aquaculture industry feed industry, the first half of 2010 can be described as "painful six months." Upstream costs rise, the downstream aquaculture benefits dropped, so that the feed industry sales and profits suffered double hit. In the case of

Mid-year report shows that feed listed companies regardless of operating income or net profit, are not satisfactory. Although companies and major analysts have said that the decline in performance mainly due to the industry off-season, high raw material prices and weather and other external factors, but with the rise in operating income brought about by the decline in profits, or highlights the profitability of the first half of the feed business significantly Lack of ills. At the same time, aquatic products and livestock and poultry materials are also under the overall weak market differentiation. For the second half of the performance of listed companies listed on the trend, industry analysts generally expressed favor. In the case of

Fisheries performance generally fell

As a highly dependent on raw material prices and external climate and environment of the industry, the first half of 2010 feed business is not better. Southern rural newspaper reporter analysis, including the new hope, through Granville, the sea, including seven main feed listed companies found that feed companies significantly decline in profitability. Among them, in recent years by the industry optimistic about the net profit of Tongwei shares fell 72% year on year, while the first half of Hong Kong's net profit fell as much as 226.83% year on year. In the case of

Ministry of Agriculture held in Suzhou on July 11, "the first half of 2010 feed production situation analysis will be" message: the first half of 2010 the national total output of 66.3 million tons of commercial feed, an increase of 4.6%, of which 52.87 million tons of feed, An increase of 6.7%; concentrated feed 11 million tons, down 10.6%; additive pre-mixed feed 2.43 million tons, down 9.3%. In the case of

In the total feed production to maintain a slight increase in the premise, as the two branches of aquatic materials and livestock and poultry material performance is different. According to the data, the total output of pig feed in the first half of 23.66 million tons, an increase of 18.7%; egg poultry feed 12.95 million tons, an increase of 2.7%; meat and poultry feed 21.08 million tons, an increase of 5.3%; aquatic feed 4.63 million tons, %. In the case of

Through the data is not difficult to find, aquatic products, livestock and poultry feed business in the first half of 2010 performance differentiation. In the case of

Aquatic feed, as the largest aquatic feed producers, Tongwei in the first half to achieve sales revenue of 3.788 billion yuan, operating profit of 12.11 million yuan, net profit attributable to parent company 23.08 million yuan, respectively, year on year decline of 12%, 86% , Excluding the transfer of Yongxiang non-recurring gains, attributable to the parent company net profit of only 5.22 million yuan, far below market expectations. Feed business profit margins in the first half of the company only 28% growth in pig sales, aquatic materials and poultry sales fell, the total sales revenue and main profits fell 2.2% and 13%. In the case of

Last year, the successful listing of the sea group is particularly eye-catching. Mid-year report shows: the first half of the company with aquatic feed sales of 30.7 million tons, an increase of 21.9%. In addition, the first half to achieve feed sales 877,000 tons, an increase of 18.9%. The first half of 2010 the company operating income of 2.665 billion yuan, an increase of 27.1%, net profit of 65.4187 million yuan, an increase of 26.14%. For its adverse growth reasons, Changjiang Securities summed up the excellent cost management and marketing level. In the case of

Tianbang shares is a major specialty aquatic feed listed companies, but its first half of the profits are mainly from the biological products. According to the mid-year report, the feed business gross margin rose only 1.68%, while the company's biological products, the gross margin was as high as 63.76%. In the case of

Livestock and poultry material performance steadily

The three companies are the main business of aquatic feed, in addition to the sea, the other two companies are operating income and operating profit decline is not the case, the net profit sharp decline. In the southern rural newspaper reporter chose to focus on the main livestock and poultry feed business, the main business income and net profit decline is not large, the overall performance remained steady rise. In the case of

To Zhengbang technology, for example, which reported that: the first half of 2010 to achieve income of 29.50 billion yuan, an increase of 69.61%, attributable to the parent company net profit of 033 million yuan, an increase of 11.41%. Although the operating efficiency is lower than expected, but the company in the first half of 2010 feed revenue growth of 55.84%, total feed sales increased 41.40% over the same period last year. In the case of

Similarly, Dabei farmers in the first half of 2010 profit growth is also lower than the income growth, but its performance is also standard. Mid-year report shows: from January to June 2010, the company achieved total operating income of 2.293 billion yuan, an increase of 34.45%; profits of 160 million yuan, an increase of 6.79%; net profit of 135 million yuan, an increase of 3.98%; The net profit of parent company owners 136 million yuan, an increase of 5.81%. In the case of

The South Rural News reporter concerned about the other two listed companies: New Hope and Zhenghong technology, although the performance of the decline, but its main reason is not from the external market, more from the company's internal adjustment. Among them, the new hope is announced on July 23 suspension. Its announcement that the company may affect the stock price and undisclosed major issues, today from the suspension, and the exact reason for the suspension, has not yet announced to the outside world.

Institutions are optimistic about the second half

For the general decline in performance, major companies and analysts have attributed the reasons for changes in the external environment. "In the first half of this year, the weather situation is bad, the breeding phenomenon of delay, coupled with some areas of serious outbreaks of breeding diseases, feed raw materials, corn, fishmeal and other prices, these reasons together, the feed business report is generally not expected On September 20, the East Iger analyst Guo Huiyong in an interview with the Southern Rural News reporter pointed out. In the case of

From the feed raw materials and commodity feed prices, the first half, in addition to soybean meal and dibasic calcium prices fell slightly year on year, the other were up the market, from January to June the main bulk raw materials (corn, soybean meal, fish meal, dibasic calcium, Lai Amino acid, methionine) the average price rose 9.9%. According to the monitoring results of 110 key enterprises feed purchase price monitoring, the average price of corn was 1960 yuan / ton, up 21.6% year on year; soybean meal price of 3300 yuan / ton, down 1.4%; fishmeal price of 11180 yuan / ton , Up 58.4%; dihydrogen phosphate average price of 2010 yuan / ton, down 2.9%; 65% lysine average price of 6150 yuan / ton, up 2.4%; methionine 42310 yuan / ton, up 1.9%. In the high prices of raw materials at the same time, aquatic products, meat and other end products prices are very weak, fresh water products, the average average price rose only 4.31%, pork average price fell 7.33%. In the case of

In addition to the same period of raw materials and aquatic products, meat and other end products, the price of scissors caused by poor industry margins fell, on the other hand, natural disasters on the aquatic feed industry has brought a greater impact. The first half of the year the temperature is lower than in previous years, most of the domestic aquaculture stocking time than in previous years to delay nearly 1 month; spring, southwest five provinces of large drought, the end of April the southern region of the storm floods, local aquatic production caused serious damage. Natural disasters on the impact of aquatic production led to the same period the national aquatic feed production fell 25.2% year on year. In the case of

Disease has also become one of the main reasons for dragging feed sales. Between May and June, most of the southern part of China continued to low temperature, and the rainfall is long, the rainfall is large, and the water products are mostly infected. Livestock and poultry breeding products are also more disease. Such as Guangdong Zhanjiang, Guangxi and other places the incidence of Penaeus vannamei high, the first and second seedling survival rate was significantly lower than in previous years. In the case of

However, with the arrival of the third quarter, corn, fishmeal and other prices have been high since the phenomenon of decline, farmers breeding will gradually increase. Data show that in 2010 the northeastern corn planting area increased slightly. Among them, Jilin corn sown area of 4656 mu, an increase of 46 million mu, an increase of nearly 1%; Heilongjiang Province, planting 7500 acres or so, an increase of 200 mu, an increase of 2.67%; Liaoning Province 4415.4 million mu, an increase of 10 million mu, an increase of 0.3 %. In the case of

Aquatic products, Changjiang Securities analyst Shao stable believes that the third quarter of the highest growth rate of aquatic feed is expected to reach more than 50%, 7-8 month sales profit is likely to record a record high. Livestock and poultry breeding, in the case of good farming efficiency, pig farmers began to fill the column. The third quarter, the pig population data to achieve a sustained growth. All this, let us have reason to believe that the second half of raw material prices will fall, which is bound to play a catalytic role in the company's performance. In the case of

Qilu Securities analyst Sun Guodong that is expected to feed the industry 3-4 quarter will usher in the stage of good times. First, the prices of corn and fishmeal fall, reducing the feed costs of feed companies. Second, with the pork, chicken prices quickly rebound, rapid recovery of livestock and poultry breeding efficiency; early low temperature caused by the situation of low prices of fish also face improvement, and thus boost the surge in feed demand, farmers to undertake the cost of feed business costs have also increased ; Third, from a micro perspective, some feed companies in July feed sales are good, regardless of fish, shrimp, or pig, chicken and duck material all out of stock, July opener for the third quarter laid a solid foundation for growth. "The worst stage of the feed industry is the second quarter of 2010, the third quarter will usher in the" cost reduction, demand for upgrading, "the stage of the opportunity." Sun Guodong concluded.

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