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Brokerage Kaiyuan (Kaiyuan Securities) maintains a Buy rating on New Hope (000876.SZ) after Q3 results showed a net loss of 2.57 billion yuan for January to September. The company booked 1.24 billion yuan in asset impairments on hogs and cut its 2026 profit forecast to a loss of 2.97 billion yuan.
The report says the hog industry has lost money for seven months, driving capacity exit.
Losses and herd liquidation in hogs point to lower pork supply later and weaker hog-farm feed demand near term. Hog price weakness is a headwind for feed demand now, with a potential recovery later.
jinguxun.comNov 3, 2026After 100 past bullish report events, HOGS moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% over 20.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
