Poultry - Thursday, 20 June 2024
We maintain our Overweight rating on the sector, foreseeing higher margins from lower feed costs. CPIN remains our top pick in the sector.
300 Views
Poultry: New Reference Prices to Support the Industry, Albeit Unlikely to Be a Game Changer
The NFA issued a new regulation to increase the reference prices of livebirds and local corn, effective from Jun24 until amendment.
254 Views
Poultry: Brighter Outlook Ahead Despite Seasonal Volatility (OVERWEIGHT)
Expect potential recovery in feed margins from lower input costs and stable chicken prices to support earnings growth of 36/34% in FY24/25F.
179 Views
Poultry - Still Unclear Benefits from the Potential MSG Program on Poultry Demand
Prabowo-Gibran’s team indicated its free lunch program (MSG) would be fully rolled out by FY29F needing 1.2mn tons of chicken p.a.
242 Views
Poultry: ST Negatives from Earnings, Data and Fund Positioning (NEUTRAL)
We cut our FY23/FY24F earnings estimates for the sector by 34.5/23.2% due to lower-than-expected LB and higher-than-expected corn prices.
239 Views