The broiler industry as a whole is currently in a prolonged bottoming-out phase, with supply strong and demand weak. Leading companies are maintaining earnings resilience through cost advantageswhile several companies continue to make moves in further processing and industry-chain extension.
Industry developments
Market bottoming:In 10, the white-feather broiler market was weak. The price of live broilers at the farm gate in Shandong was about 3.1 yuan per jin, while raising costs were about 3.6 yuan per jin, leaving most farmers operating at a loss. Chick prices were low, and hatcheries were losing about 0.7 yuan per chick. The industry's core contradiction is relatively high supply and weak demand, making a rapid short-term reversal unlikely.
Outlook:Industry observers believe the fourth quarter will remain in a bottoming phase. Prices may stabilize only after a clear decline in chick placements and a reduction in frozen-product inventories. In the medium to long term, if upstream producers continue to reduce capacity, a cyclical recovery is expected in the first half of 2027.
Company updates
1, Shengnong Development:Q3 adjusted net profit excluding non-recurring gains and losses reached a new quarterly high since 2021. The cost advantage of self-bred and self-raised chickens is clear. The company’s independently developed “Shengze 901” and “Shengze 903” white-feather broiler breeding lines have been deployed at scale internally, breaking the monopoly on foreign breeding stock and strengthening cost advantages and earnings resilience.
2, Wen's Foodstuff Group:In the first three quarters of 2026, chicken sales reached 9.96 hundred million birds, up 5% year on year, and chicken sales revenue was 260.01 hundred million yuan, up 13.5% year on year. Yellow-feather broiler prices recovered in Q3. In 9, the average selling price of live chickens was 14.2 yuan per kilogram. The poultry business contributed incremental earnings, offsetting the pig-farming business.
3, Xiangjia Co., Ltd.:Revenue in the first three quarters was approximately 36.31 hundred million yuan, up 10.98% year on year, while net profit attributable to shareholders of the parent company was approximately 6388 ten thousand yuan, up 185.84% year on year. The improved performance was mainly driven by a recovery in the yellow-feather broiler market, continued development of the chilled poultry business, and feed cost control.
4,Hefeng Co., Ltd.:President Qiu Jiahui said at an industry conference that the first half of the white-feathered broiler industry was defined by cost and efficiency, while the second half will see competition shift to structure and value. The industry has reached a critical adjustment period, and those in the industry should restrain expansionary impulses and operate prudently.
5,Haobang Food:As the “chain leader” enterprise in Shaanxi’s poultry full-industry chain, it slaughters and processes 300 ten thousand broiler chickens annually and produces 7.5 ten thousand tonnes of chicken products annually. Through the “company + farmer” model, it supports employment for more than one thousand people across upstream and downstream sectors.
6,Yun County Mountain Black-Bone Chicken Processing Plant:Officially commenced production on 10 month 23 day, filling a gap in deep processing. It focuses on specialty processed products such as ham and papaya chicken and hand-shredded chicken, promoting the local broiler industry’s transition toward branding.
Potential areas of interest
Deep-processing trends:Broiler companies are expanding from simple farming into further processing. For example, the output value of the Laiyuan broiler further-processing project surged by 180%, making full use of each chicken and significantly increasing product value.
Disease prevention and control:Disease prevention and control in poultry remains a key industry focus. Boehringer Ingelheim recently organized leading Chinese poultry companies to visit France for exchanges and discussions on innovation in disease prevention and control and sustainable development.
