“Will this year be a horrible year for us or the year we put our business into another gear?” questioned Lyons. He then challenged the audience with six ideas:
- Improved capital efficiency –Invest your money in profitable businesses.
- Improved productivity – Use new technologies for more efficient animal production.
- Rationalized supply chains – Effective vertical integration is key.
- Proactive response to consumers’ demands – Create branded functional meat products.
- Develop human capital: talented leaders for the future – Identify and support talents.
- New world class innovation – Have your unique technology.
Lyons sees the future as bright for the poultry industry. He forecasts that meat prices will have a mild recovery when disease ends due to high inventory of frozen chicken. In the short term, China’s economic growth is expected to return to eight percent in 2013, which will greatly support poultry consumption as institutional buyers may increase poultry purchases and QSR sales may improve. Overall, China’s poultry market will remain stable in the coming year, said Lyons.