DBC RECOMMENDATION – PIG SHORTAGE, PORK PRICES SOARING – DBC BACK ON TRACK
01/06/2023
TARGET PRICE: 24,100 VND/SHARE - 01/06/20231. Consumption volume remains stable at around 350,000 tons/year as the livestock industry stabilizes and the animal feed market becomes increasingly saturated with significant fragmentation.2. Animal feed selling prices are forecast to gradually decrease from the second half of 2023 and continue to fall sharply in the 2024-2027 period as the supply of raw materials for animal feed production such as corn, soybeans, wheat bran, etc., stabilizes.3. DBC's live hog consumption volume is forecast to grow at a CAGR of 12% in the 2024-2027 period as DBC invests in new projects to expand its hog herd.4. Live hog prices are forecast to recover from their Q1/2023 low to 65,000-70,000 VND/kg in the 2024-2026 period before experiencing a decline in 2027 as the livestock industry is clearly cyclical.SOURCE: AAS RESEARCH
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