AgFeed Industries Inc. (NasdaqGM:FEED - News), a leading pork producer and livestock feed grain maker, is setting the stage to bring home the bacon in the fast-growing market. AgFeed develops, manufactures, distributes and sells pre-mix feed and feed additives primarily for use in China's pork husbandry and slaughter market. It is also engaged in the raising, breeding and sale of hogs for the domestic pork production and hog-breeding markets. The company, which does business through a handful of subsidiaries, has production plants in Shanghai, Nanchang and Nanning, and operates more than two-dozen producing swine farms in China's southern provinces.
In the United States, pork might be "the other white meat," but in China, it's the only meat. Well, almost. Far more than any other meat, pork occupies a special place in the Chinese diet and economy. Supporting a hog market estimated to be worth $32 billion annually, the Chinese consume more pork than any other nation. It is prepared in almost every conceivable way, from roasted whole suckling pigs, commonly served during holiday feasts, to sweet and sour pork, whose Americanized version is a Chinese restaurant staple. Pork accounts for two-thirds of the average Chinese's protein intake.
FEED has been showing support around $10.00 and resistace in the $16.67 range. Its 52-week trading range is $5.91 to $21.31. It was listed buy with the $19.48 target price in six months.
(All China Stocks -All Information About China Stocks Traded In U.S. Stock Markets)
In the United States, pork might be "the other white meat," but in China, it's the only meat. Well, almost. Far more than any other meat, pork occupies a special place in the Chinese diet and economy. Supporting a hog market estimated to be worth $32 billion annually, the Chinese consume more pork than any other nation. It is prepared in almost every conceivable way, from roasted whole suckling pigs, commonly served during holiday feasts, to sweet and sour pork, whose Americanized version is a Chinese restaurant staple. Pork accounts for two-thirds of the average Chinese's protein intake.
FEED has been showing support around $10.00 and resistace in the $16.67 range. Its 52-week trading range is $5.91 to $21.31. It was listed buy with the $19.48 target price in six months.
(All China Stocks -All Information About China Stocks Traded In U.S. Stock Markets)
