Comparison of breeding stocks of sows: New Hope has the largest increase, Muyuan shares

 　　Since the beginning of this year, the national stock of reproductive sows has continued to grow, basic production capacity has continued to recover, the number of live pigs for slaughter has increased significantly, and the pork market price has dropped significantly.
According to the monitoring of the Ministry of Agriculture and Rural Affairs, the number of reproductive sows nationwide in January and February increased by 1.
1% and 1.
0%, respectively, and 35.
0% and 34.
1% year-on-year.
At the end of February, the national stock of reproductive sows was equivalent to 95.
0% of the end of 2017, and the national stock of live pigs remained above 400 million.
Yd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

　　The national stock of reproductive sows is slowly increasing.
So how much is the stock of reproductive sows of the big pig raisers? What is the production capacity of head pig companies in the current situation of frequent African swine fever?Yd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

　　According to the latest data disclosed by listed pig companies, the number of sows that can be produced by each company is as follows:Yd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

 Yd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

　　The time nodes disclosed by the companies are slightly different.
Among them, Muyuan shares are until the end of 2020, Zhengbang Technology is until the end of January 2021, and Wen's shares and New Hope are until March 2021.
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　　Muyuan shares: as of the end of December 2020, there are 2.
624 million sows capable of breedingYd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

　　According to the data disclosed by the company at the end of each quarter: as of the end of December 2020, the company has 2.
624 million breeding sows.
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　　As of the end of September 2020, the company's stock of capable sows was 2.
216 million, including great grandparents, grandparents and parents.
As of the end of March 2020, the company has 1.
696 million breeding sows.
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　　Zhengbang Technology: As of the end of January, the company can breed 1.
23 million sowsYd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

　　On March 1, Zhengbang Technology disclosed on the Shenzhen Stock Exchange Interactive: As of the end of January, the company was able to breed 1.
23 million sows and 810,000 back-up sows.
The company currently has a total of 140,000 ggp+gp.
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　　Previously, as of October 26, 2020, 1.
108 million sows could be bred, and it is estimated that more than 1.
4 million sows can be bred by the end of December.
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　　At present, due to the large number of ternary sows eliminated, the proportion has dropped from about 30% at the end of last year to less than 20%.
It is expected that starting from the fourth quarter, the company's sows will be dominated by binary sows.
This year's goal of breeding pigs is to strive to have 2 million sows by the end of the year.
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　　New hope: 1.
1 million sows can be reproduced in the breeding herdYd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

　　On March 4, 2021, New Hope revealed in an investor conference call: There are now 1.
1 million sows in the breeding herd.
This is firstly due to the impact of the epidemic in the last two months, and on the other hand.
Some inefficient sows were eliminated.
The epidemic and the elimination of low-efficiency sows have caused the company's number of breeding sows to drop by 7.
5% in the last two months.
From a generational point of view, GP/GGP company has only dropped by less than 20,000 heads, and now it is 220,000 heads.
The 20,000 head reduction is also a normal elimination.
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　　Previously, the company disclosed that as of the end of December 2020, the company was able to breed 1.
19 million sows and 970,000 gilts.
As of mid-December, the total stock of breeding pigs has reached 2.
16 million, of which parents can breed more than 1 million (plus GGPGP can breed more than 1.
2 million); in mid-December 2020, there are about 15% of the three-yuan females in the breeding stock.
For pigs, less than half of the remaining binary sows are purchased from outside.
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　　As of the end of March 2020, the company has a total of more than 700,000 breeding pigs, including 500,000 breeding sows and more than 200,000 reserve sows.
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　　Wen's shares: currently there are about 1.
6 million sows, of which about 1.
1 million can breed sowsYd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

　　On March 14, Wen's shares disclosed in Orient Securities' spring small-scale online strategy meeting: The company currently has about 1.
1 million breeding sows and about 500,000 gilts.
It is estimated that by the end of this year, the company can breed about 1.
8 million sows and about 800,000 gilts.
In the past year, the company implemented the strategy of high scouring and high supplement to improve the quality of sows.
The effect was obvious, laying a solid foundation for future development.
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　　Wen's shares also publicly stated that under the background of the African swine fever epidemic, the proportion of the company's ternary sows and binary sows is in the process of dynamic adjustment, but the overall trend is that the proportion of ternary sows is increasing.
The lower and the lower, the higher the proportion of healthy and high-quality binary sows.
Yd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

　　Although the head pig companies are gradually adjusting the proportion of binary sows, from a national perspective, since the outbreak of the non-pest disease in 2018, my country’s pig industry has suffered heavy losses.
A large number of sows have been eliminated due to the disease.
The supply of live pigs is restored, and the industry is in the embarrassing situation of "two yuan sows are cut off and three yuan compensation".
The sows in many farms have basically become three yuan trash pigs, backcross pigs and even more complex sows.
The retention of sows has led to a decline in MSY and reduced production efficiency.
According to institutional research results, as of January 2021, there were 20.
63 million breeding sows and 12.
64 million gilts in the country.
Binary sows accounted for 54%, and ternary sows accounted for 46%.
Compared with the production capacity of binary sows, the ternary sows have lower breeding rates, fewer parities and shorter actual life cycles.
Yd4 China Feed Industry Information Network-Based on feed, serving animal husbandry

　　Judging from the data disclosed by the four companies, the number of breeding sows of Muyuan shares has been increasing quarter by quarter, from the end of the first quarter of 2020 to the end of the year, an increase of 54.
72%; Zhengbang Technology from the end of the first quarter of 2020 to 2021 At the end of January, an increase of 13.
89%; Wen's current number of reproductive sows decreased by 100,000 to 200,000 heads compared to the beginning of 2020; New Hope surged by 120.
00 from the end of the first quarter of 2020 to March this year %.
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