Vietnam’s Live Hog Prices Fall as Livestock Firms Report Lower Third-Quarter Profits
Vietnam’s average live hog price fell 11.2% quarter on quarter in the third quarter of 2026. Net profits declined at Dabaco, Nông nghiệp Hòa Phát and BAF Việt Nam. VCBS expects prices to remain under pressure in the fourth quarter, though stronger year-end demand could support a recovery.
In the third quarter of 2026, Vietnam’s average live hog price was VND 56,100 per kilogram, down 11.2% from the previous quarter but still up 1.4% year on year. A commodity report from VCBS showed that the price decline accelerated toward the end of the quarter, while several livestock companies reported lower quarterly profits.
Live hog price trends across Vietnam in the third quarter of 2026. Data: VCBS commodity report.（VietVance）
Dabaco’s third-quarter net profit was VND 200 billion, down nearly 42% year on year. The company said its vegetable oil business performed well, but weak live hog prices weighed on its livestock business and reduced overall profit. Nông nghiệp Hòa Phát reported revenue of about VND 1.6 trillion, down 19% year on year, and net profit of VND 302 billion, down 16%. Lower sales volumes of hogs and beef cattle caused gross profit to fall markedly.
Dabaco’s consolidated results for the third quarter of 2026.（VietVance）
BAF Việt Nam’s third-quarter revenue rose 82% year on year to nearly VND 2.1 trillion, but net profit fell 5% to VND 19.53 billion. Financial expenses associated with the company’s expansion rose 126% year on year to more than VND 153 billion, while administrative expenses increased 33%. Masan MeatLife’s net profit rose 7% to VND 84 billion, making it the only company covered here to report profit growth.
In the first nine months of 2026, net profits at Dabaco, Nông nghiệp Hòa Phát and BAF Việt Nam fell 36%, 27% and 9% year on year, respectively. HAG’s profit for the period exceeded VND 2.4 trillion, up 95% year on year, mainly because its bond debt obligations were reduced.
VCBS expects African swine fever and prolonged flooding in several areas to prompt farmers and traders to sell hogs early, creating a short-term oversupply and keeping live hog prices under pressure in the fourth quarter. According to the Import-Export Department, pork import volumes rose 19% year on year in the first eight months, while their value fell 24%. VCBS also said stronger meat demand ahead of the Lunar New Year could support a price recovery toward year-end.
Source: VietVance
