China’s three major listed pig companies, Muyuan Shares, New Hope, and Wens Shares, all saw an increase in sales in January compared to the previous period. However, their revenues declined simultaneously. As the Chinese New Year approaches, the demand for pork is increasing, but pork prices in China are on the decline.
On February 7th, New Hope (New Hope Liuhe Co., Ltd.) released a “January 2026 Sales Brief.” The report showed, “In January 2026, the company sold 1.1218 million commodity pigs, with a month-on-month change of -28.02% and a year-on-year change of 9.70%. The revenue from commodity pig sales was 1.628 billion yuan, with a month-on-month change of -20.15% and a year-on-year change of -10.03%. The average selling price of commodity pigs was 12.48 yuan/kg, with a month-on-month change of 10.64% and a year-on-year change of -19.01%.”
Muyuan Shares (Muyuan Food Co., Ltd.) released a “January 2026 Sales Brief” on February 6th. The report indicated, “In January 2026, the company sold 7.009 million commodity pigs, with a year-on-year change of 2.73% (including 3.116 million commodity pigs sold to the wholly-owned subsidiary Muyuan Meat Co., Ltd.); the average selling price of commodity pigs was 12.57 yuan/kg, with a year-on-year change of -16.92%. The revenue from commodity pig sales was 10.566 billion yuan, with a year-on-year change of -11.93%.”
Another listed pig company, Wens Shares (Wens Food Group Co., Ltd. Wens Shares) released a “January 2026 Main Product Sales Brief” on February 5th. The report showed, “In January 2026, the company sold 2.9636 million meat pigs (including live pigs and fresh products), with revenue of 4.698 billion yuan. The average selling price of live pigs was 12.75 yuan/kg, with month-on-month changes of -35.05%, -11.17%, 9.91%, and year-on-year changes of 2.20%, -12.17%, -19.15%.”
From the data of these three listed pig companies, it can be seen that in January of this year, the sales volume of the three pig companies increased, with New Hope up by 9.70%, Muyuan Shares up by 2.73%, and Wens Shares up by 2.20% year-on-year. However, while sales volumes increased, revenues declined: New Hope’s revenue from commodity pig sales was 1.628 billion yuan, down by 10.03% year-on-year; Muyuan Shares’ revenue from commodity pig sales was 10.566 billion yuan, down by 11.93% year-on-year; Wens Shares’ revenue was 4.698 billion yuan, down by 12.17% year-on-year.
In January, the average selling prices of the three major listed pig companies all witnessed a decline year-on-year, ranging from 16% to 20%.
Not only these three major pig companies but also the overall average pork prices in China are declining. According to monitoring data from the Ministry of Agriculture and Rural Affairs of the CCP, on February 6th, the average wholesale price of pork in Chinese agricultural product markets was 18.34 yuan/kg, a 1.5% decrease compared to the price on the previous Friday (January 30) of 18.61 yuan/kg. This week’s average price was 18.44 yuan/kg, a 1.1% decrease from the previous week’s average price of 18.65 yuan/kg.
According to data from China Pig Farming Network, on February 6th, the price of live pigs (Ex-sow) was 12…
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