Shares of Muyuan Foods Group Co.,Ltd. (ASX: 02714) have continued their downward trend, falling nearly 4% and hitting a new intraday low of HK$28.32, which also marks a fresh record low since its listing.

At the time of writing, the stock was down 3.93% to HK$28.32, with a turnover of HK$38.4 million.

On the news front, the company's Chief Legal Officer, Yuan Hebin, stated that regarding the cost-reduction target of 600 yuan per pig set in 2022, the company has already achieved a reduction of 323 yuan per head as of the end of May. This leaves 277 yuan per head to reach the set goal. The company is focusing on improving personnel efficiency, material efficiency, and refined management, indicating there is still room for further cost reduction.

It was also reported that from January to May this year, the slaughter volume reached 14 million head. The company anticipates the full-year slaughter volume for 2026 will see an increase of approximately 20%.

According to data from Zhuochuang Information, the average monthly price as of June 15 was 9.50 yuan per kilogram. While the Dragon Boat Festival holiday provided some support for hog prices, demand is currently in a traditionally weak consumption season, making it difficult for live hog prices to rise significantly.

Relevant departments from the Ministry of Agriculture and Rural Affairs and the National Development and Reform Commission have organized a symposium with major hog-producing provinces and large-scale pig farming enterprises. The meeting aimed to analyze and assess the current production situation, guide local governments and companies in implementing regular and precise market adjustments, and work towards bringing hog prices back to a reasonable level as soon as possible.