# Company Update: Hog Price Decline and Asset Impairments Weigh on Earnings; Industry Capacity Cuts Set Up Cycle Recovery

> 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.

- Date: 2026-11-03 · published 2026-11-04T00:21:31.235Z
- Category: report · region China · magnitude low
- Page: https://feedsoft.ai/events/78716-company-update-hog-price-decline-and-asset-impairments-weigh-on-earnings
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

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.

## Read by commodity

- CORN: neutral
- HOGS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2019-01-01 | [Pork Industry: Some Recovery from Decade Low Prices](https://feedsoft.ai/events/61252-pork-industry-some-recovery-from-decade-low-prices.md) | +2.9% | -0.5% |
| HOGS | 2022-12-09 | [High hog prices squeeze pork processors: USDA ERS - Swineweb.com - Complete Swine News, Markets, Commentary, and Technical Info](https://feedsoft.ai/events/38370-high-hog-prices-squeeze-pork-processors-usda-ers-swineweb-com-complete-swine.md) | -0.2% | -3.4% |
| HOGS | 2019-04-18 | [Beef Market Update: USDA Cattle on Feed, calving season, and dry pasture conditions on the Prairies - RealAgriculture](https://feedsoft.ai/events/5962-beef-market-update-usda-cattle-on-feed-calving-season-and-dry-pasture.md) | +1.7% | +3.3% |
| HOGS | 2025-03-17 | [Livestock Production Cycles Affect Long-Term Price Outlook for Cattle, Hogs, and Chickens \| Economic Research Service](https://feedsoft.ai/events/25713-livestock-production-cycles-affect-long-term-price-outlook-for-cattle-hogs-and.md) | -0.5% | -1.9% |
| HOGS | 2021-01-15 | [Hog prices make surprising recovery as U.S. herd shrinks \| The Western Producer](https://feedsoft.ai/events/49306-hog-prices-make-surprising-recovery-as-u-s-herd-shrinks-the-western-producer.md) | +1.1% | +10.2% |
| CORN | 2022-07-15 | [UPDATE 2-China Q2 pork output at highest in years after herd recovery - Swineweb.com - Complete Swine News, Markets, Commentary, and Technical Info](https://feedsoft.ai/events/40473-update-2-china-q2-pork-output-at-highest-in-years-after-herd-recovery-swineweb.md) | -10.7% | -8.4% |
| CORN | 2023-06-20 | [High and volatile egg prices impact markets and industry business models - Poultry News](https://feedsoft.ai/events/35649-high-and-volatile-egg-prices-impact-markets-and-industry-business-models.md) | -1.6% | -13.3% |
| CORN | 2024-09-30 | [US renewable diesel production capacity posts largest monthly decline on record \| Reuters](https://feedsoft.ai/events/15182-us-renewable-diesel-production-capacity-posts-largest-monthly-decline-on-record.md) | +1.0% | -0.6% |

## Sources

- jinguxun.com: https://www.jinguxun.com/article/news/11024370

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.