Jan 15, 2024 08:03 AM

BUSINESS

Cover Story: Feed Giant New Hope Navigates Downside of Boom-Bust Cycle

By Wang Juanjuan, Ling Huawei and Han Wei

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New Hope Liuhe Co. Ltd., China’s top animal-feed maker and third largest hog producer, responded like many of its competitors when pork prices started rising several years ago: it poured money into expansion. Now, 12 months into a cycle of falling prices, the pig farming concern is seeing losses instead of profits and embarking on a retrenchment to regain its footing.

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