New Hope reshapes pig farming strategy for 2026

However, compared to last year, losses decreased by around USD 38 million. This improvement highlights the impact of cost reductions and operational adjustments, even amid volatile market conditions.

Slaughter volumes hold steady

Despite financial pressures, slaughter volumes showed resilience. New Hope slaughtered 12.48 million hogs in the first three quarters, a modest year-on-year increase of 0.51%.

Quarterly volumes were approximately 4.19 million, 4.26 million, and 4.03 million respectively. The company expects Q4 slaughter volumes to rise slightly compared with Q3.

Breeding costs trend lower

Breeding costs continued to decline, easing pressure on margins. New Hope’s average cost had already decreased to USD 1.79/kg  in September and further dropped to USD 1.76/kg in October.

Regional performance varied. Costs in the western region dropped to USD 1.69/kg, while the central-southern region decreased to USD 1.74/kg. In northwestern Shandong, Shaanxi, and Guizhou, costs fell further to USD 1.68/kg. 

Lower breeding stock and feed costs drove the decline. In Q3, total costs decreased by around USD 0.23/kg compared to the same period last year. Breeding stock costs dropped by USD 0.085/kg, while feed costs also fell by the same margin.

Weaning costs contributed significantly, falling from USD 49.40 in 2023 to USD 33.88 in Q3 this year.

New Hope is adjusting its pig farming to meet policy goals and cut costs. These changes aim to reduce losses and prepare the business for a steadier 2026.