Wens Foodstuff told investors at a roadshow that China hog prices have been
depressed for an extended period. The company said industry and market
participants disagree on the timing and magnitude of a cyclical reversal but
preliminarily expects prices to reach a consolidation turning point around the
Spring Festival. The industry broadly sees a high probability of returning to
profitability in 2027; profit levels will depend on hog price trends in this
year’s Q3–Q4 and the pace of industry capacity reduction.
