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Bringing Home the Bacon


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It pays to raise pigs in China. Pork is by far the most popular animal protein in the heavily carnivorous nation, accounting for around 65% of total meat consumption. And that level is expected to continue to rise. US Department of Agriculture figures anticipated that pork production was to grow a strong 5% in 2007 to 55.8 million tons. That means something around 530 million hogs raised, more than five times the amount reared in the US.

One company well poised to take advantage of this is NASDAQ-traded AgFeed Industries, by far China’s most significant producer of hog feedstock. The company’s top and bottom line results have moved along with the general trajectory of the market, with revenue expanding from $8.5 million in the quarter ended in December 2006 to $11.9 million three quarters later. Net profit in the same period came in at $1.2 million and $2.1 million, respectively. Meanwhile, the balance sheet was very clean, with no debt and a healthy cash position.

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