CITIC Securities Says 2027 Pig Prices Could Improve as Industry Deleverages

CITIC Securities said pig prices stayed weak in the first half of 2026, leaving the sector deeply loss-making and showing wide cost differences among listed companies. According to 36Kr, the broker said industry losses are continuing, cash flow pressure remains high, policy constraints are tightening, and regulatory measures are being implemented. It expects capacity cuts to continue in the second half of 2026, with a better pricing cycle possible in 2027. The firm added that per-head market value for live hog companies is already at a relatively low level and reiterated its positive view on the sector.