Menu
In 30 December 2024 – 03 January 2025, avg. broiler price fell to IDR 21,013/kg (-2.1% WoW/-0.7% MoM/-1.0 YTD), and avg. DOC price dropped to IDR 5,000 (-9.1% WoW). We attribute the declines in prices to the conclusion of the year-end holiday season, which typically reduces demand.
For raw materials, domestic corn prices slipped -1.0% WoW, averaging IDR 4,574/kg (YTD: +3.4%), while avg. weekly SBM price rose to USD 309/t (+4.3% WoW), with YTD average of USD 312/t (YTD: -26.5%). The increase in SBM prices was mainly driven by supply shortage concerns in Argentina, the world’s fourth-largest soybean producer.
Looking ahead, we anticipate poultry players to experience positive 4Q24 margins across all segments, driven by supply cuts and lower raw materials prices. JPFA and MAIN appear to have the most attractive valuations, supported by performance drivers, such as voluntary culling, and favorable government policies, including free lunch program and reduction in GPS import quotas.
Samuel Sekuritas Indonesia is a leading Indonesian securities brokerage firm. Established in 1997, the firm has grown to become one of the most respected and trusted financial services companies in the country. With a wide range of services and products, Samuel Sekuritas Indonesia has become a trusted partner to many investors, both institutional and individual.
The company offers a variety of financial services, including equity, debt and derivative securities brokerage services, research and portfolio management, asset management and capital market services, as well as a range of other investment solutions. Samuel Sekuritas Indonesia is also a leader in providing financial education and training, and has established itself as a leading provider of investor relations services.
The company has a strong research capability and is committed to providing its clients with up-to-date and reliable market analysis and recommendations. It also has a team of experienced and knowledgeable professionals who are dedicated to providing quality service to its clients. As a result, Samuel Sekuritas Indonesia has become a preferred partner for many investors in Indonesia.
In addition to its financial services, Samuel Sekuritas Indonesia also offers a range of other services, such as corporate finance and advisory services, mergers and acquisitions, and venture capital.
