Sunjin, a Korean integrated livestock and food company, reported third-quarter cumulative revenue up 11.2% to 1.4268 trillion won, while operating profit fell 5.5% to 113 billion won. Its feed and livestock segment saw revenue rise 14.7% but operating profit drop 16.3%, with margin falling to 7.4%.
Raw material costs rose, with corn purchase prices up 5.7%, wheat up 3.2% and live hog costs up 3.4%, while soymeal fell 4.2%. Higher corn and wheat costs squeeze feed margins for integrated producers, and weaker livestock margins can reduce feed demand.
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