A trading update from animal genetics business Genus says trading in the first four months of the current year, to October 31st 2019, has seen volumes, revenues and adjusted profit grow across its PIC and ABS pig and cattle divisions.
The global pig business is benefitting from rising pigmeat prices in China, following the African Swine Fever epidemic there. This is encouraging farmers to restock and lifting demand for Genus’ genetics. But, “the threat of ASF still remains for producers in the region – we continue to closely monitor its spread to the Philippines and other parts of Southeast Asia.”
The company had widened its existing strategic relationship with Beijing Capital Agribusiness to develop and market the Genus line of Porcine Reproductive and Respiratory Syndrome virus (“PRRSv”) resistant pigs in China to include other product lines.
In cattle, Genus’ Sexcel sexed semen product continues to grow volumes and revenues. The company is expanding its production facility in the US state of Wisconsin to meet demand.
The Genus Board says it is on track meet its growth expectations for full financial year 2020.