Group 1 - The core point of the article is that Juxing Agriculture and Animal Husbandry (603477.SH) has completed a share buyback plan, where Juxing Group increased its holdings of the company's unrestricted circulating A-shares by 2,791,408 shares, accounting for 0.547% of the total share capital [1] - The total amount spent on this buyback was RMB 53,089,336.96 (excluding transaction fees) [1] - The buyback period was from August 13, 2024, to August 7, 2025, and the plan has now been fully implemented [1]

2024年1至12月份，巨星农牧的营业收入构成为：养殖行业占比97.73%，皮革行业占比2.11%，其他业 务占比0.15%。 （文章来源：每日经济新闻） 巨星农牧（SH 603477，收盘价：20.97元）8月7日晚间发布公告称，自2024年8月13日至2025年8月7 日，巨星集团通过上海证券交易所以集中竞价方式累计增持公司无限售流通A 股股份约279万股，占公 司总股本的比例为0.547%，累计增持金额为人民币约5309万元，相关增持计划实施完毕。 ...

巨星农牧（603477）(603477.SH)披露2025年7月养殖业务销售情况，2025年7月，公司销售生猪32.41万 头，其中商品猪销售31.91万头、仔猪销售0.49万头，生猪销售收入5.63亿元。 ...

据iFind统计，截至8月6日，沪深两市共有105只个股连续5日或5日以上获主力资金净买入。连续获主力 资金净买入天数最多的股票是宏盛华源、华塑股份、老凤祥、青松建化、倍加洁，均已连续11个交易日 获净买入；连续获主力资金净买入天数较多的还有中南传媒、TCL智家、腾达建设、浦东建设、信达地 产、苏能股份、大秦铁路、巨星农牧等股，分别获10个、10个、9个、9个、9个、9个、9个、9个交易日 净买入。 （文章来源：证券时报网） ...

Investment Rating - The report maintains an investment rating of "A" for the agriculture sector, suggesting a focus on the recovery cycle of feed and marginal improvements in breeding [1]. Core Insights - The agriculture sector has shown a decline of 2.97% in the past week, with the animal health, food and feed additives, fruit and vegetable processing, aquaculture, and seeds sub-industries performing the best [1][22]. - The report highlights a potential recovery in the feed industry due to the decline in upstream raw material prices and improvements in the breeding sector, particularly for Haida Group, which is expected to see an upward trend in its operational fundamentals [2][4]. - The report emphasizes that the current market may be overly pessimistic about the impact of rising pig production capacity on profitability, while it overlooks the positive effects of declining raw material costs and potential macro demand recovery in 2025 [3]. Summary by Sections Swine Breeding - As of August 1, 2025, the average prices for external three yuan pigs in Sichuan, Guangdong, and Henan were 13.70, 16.04, and 14.38 yuan per kilogram, reflecting increases of 0.74%, 3.22%, and 1.77% respectively [2][31]. - The average pork price was 20.60 yuan per kilogram, down 1.29% from the previous week, while the average wholesale price for piglets was 27.00 yuan per kilogram, up 3.85% [31]. - The report suggests that the swine breeding industry is expected to enter a profitability cycle starting from Q2 2024, although the average debt reduction rate indicates a long road ahead for the industry [3]. Poultry Breeding - The weekly price for white feather broilers was 6.83 yuan per kilogram, up 1.94%, while the price for broiler chicks rose significantly by 33.16% to 2.57 yuan per chick [46]. - The report notes that the breeding profit for broilers is currently negative at -0.43 yuan per chick, and egg prices have decreased by 2.70% to 7.20 yuan per kilogram [46]. Feed Processing - In June 2025, the total industrial feed production in China was 27.67 million tons, a slight decrease of 0.1% month-on-month but a year-on-year increase of 6.6% [55]. - The report indicates that the production of compound feed, concentrated feed, and additive premix feed saw year-on-year growth of 6.6%, 3.4%, and 8.7% respectively [55]. Aquaculture - As of August 1, 2025, the prices for sea cucumbers, shrimp, and bass remained stable at 90.00 yuan per kilogram, 320.00 yuan per kilogram, and 50.00 yuan per kilogram respectively [64]. - In freshwater products, the price for grass carp was 16.70 yuan per kilogram, down 0.30%, while crucian carp saw a slight increase of 0.09% to 22.99 yuan per kilogram [64]. Crop and Grain Processing - As of August 1, 2025, soybean prices were stable at 3926.32 yuan per ton, while corn and wheat prices slightly decreased to 2402.75 yuan and 2440.50 yuan per ton respectively [75]. - The report highlights a significant increase in the price of enoki mushrooms, which rose by 37.78% to 6.20 yuan per kilogram [75].

证券之星消息，8月6日养殖业板块较上一交易日上涨0.62%，华英农业领涨。当日上证指数报收于 3633.99，上涨0.45%。深证成指报收于11177.78，上涨0.64%。养殖业板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002321 | 华英农业 | 2.76 | 6.15% | 70.23万 | 1.90亿 | | 300761 | 立华股份 | 20.18 | 1.41% | 9.32万 | 1.86亿 | | 603477 | 巨星农牧 | 21.07 | 1.40% | - 16.03万 | 3.35亿 | | 605296 | 神农集团 | 32.28 | 1.35% | 4.30万 | 1.37亿 | | 002714 | 牧原股份 | 46.77 | 1.10% | 31.20万 | 14.55 乙 | | 300313 | *ST天山 | 8.89 | 0.91% | 10.80万 | 9674.29万 | | 000876 | 新希望 | 9.74 ...

国海证券指出，猪价持续震荡，但下行压力犹在。政策或将保持长期调控方向。生猪行业朝着自律-监 管加剧-纠偏-稳定的方向运行，行业有望从出栏增长逻辑往价值方向回归，头部猪企更为受益。 养殖ETF紧密跟踪中证畜牧养殖指数，中证畜牧养殖指数选取涉及畜禽饲料、畜禽药物以及畜禽养殖等 业务的上市公司证券作为样本，以反映畜牧养殖相关上市公司的整体表现。从估值层面来看，养殖ETF 跟踪的中证畜牧养殖指数最新市盈率（PE-TTM）仅13.4倍，处于近3年12.15%的分位，即估值低于近3 年87.85%以上的时间，处于历史低位。当前板块估值仍在低位、板块安全边际高，建议积极关注养殖 ETF(516760.SH)。 8月6日早盘，养殖ETF(516760)震荡上行，现跌0.15%，成分股金河生物(002688)上涨2.76%，华英农业 (002321)上涨2.69%，海大集团(002311)上涨1.16%，巨星农牧(603477)上涨1.06%，牧原股份(002714)上 涨0.99%。消息面上，中国畜牧业协会发布关于召开猪业分会会长办公会扩大会议的通知。 近日，中央定调"反内卷"已延伸至农产品领域，7月23日农业部会议调控范围 ...

Investment Rating - The report maintains a "Recommended" rating for the agricultural, forestry, animal husbandry, and fishery industry [1][8]. Core Viewpoints - The report highlights a long-term revaluation opportunity for the pig industry, indicating that while pig prices are experiencing fluctuations, there is still downward pressure. The industry is expected to transition towards a self-regulatory and stable phase, benefiting leading companies such as Wens Foodstuffs, Muyuan Foods, and Juxing Agriculture [4][14]. - The poultry sector is currently facing low prices, but there are signs of marginal improvement in the cycle, with recommendations for companies like Shennong Development and Lihua Stock [5][24]. - The animal health sector is anticipated to see performance recovery and investment opportunities in pet medical services, with a focus on companies like Kexin Biological and Ruipuhua [6][34]. - The planting sector is experiencing a decline in the pig-to-grain price ratio, with ongoing commercialization of genetically modified seeds benefiting early adopters [7][37]. - The feed sector is witnessing price fluctuations, with recommendations for Haida Group and attention to He Feng Stock [7][42]. - The pet economy is thriving, with domestic brands gaining strength, and the report recommends companies in the pet food sector such as Guibao Pet and Zhongchong Stock [7][51]. Summary by Sections Pig Industry - The average price of pigs is currently around 14.08 yuan/kg, with fluctuations noted [14]. - The number of breeding sows has increased slightly, indicating a stable supply [14]. - Key recommendations include Wens Foodstuffs, Muyuan Foods, and Juxing Agriculture, with a suggestion to pay attention to Dekang Agriculture [4][14]. Poultry Industry - The price of white feather chicken is low, with a focus on potential marginal improvements in the cycle [5][23]. - The report notes a significant update in the breeding stock, with a mix of imported and self-bred varieties [5][24]. - Recommended companies include Shennong Development and Lihua Stock [5][24]. Animal Health - The report anticipates continued recovery in animal health companies' performance, supported by stable profits in the pig farming sector [6][34]. - The approval of mRNA vaccines for veterinary use marks a significant technological advancement [6][34]. - Recommended companies include Kexin Biological and Ruipuhua, with additional attention to Huisheng Biological and Jinhai Biological [6][34]. Planting Sector - The pig-to-grain price ratio has decreased, with ongoing commercialization of genetically modified seeds [7][37]. - Recommendations include Suqian Agricultural Development and Longping High-Tech [7][37]. Feed Sector - Feed prices are experiencing fluctuations, with specific prices noted for different types of feed [7][42]. - The report suggests that the feed industry is likely to see increased concentration, recommending Haida Group and monitoring He Feng Stock [7][42]. Pet Industry - The pet market is growing, with a significant increase in consumption and brand development [7][51]. - Recommendations include Guibao Pet, Zhongchong Stock, and Peidi Stock in the pet food sector, as well as Ruipuhua in the pet medical sector [7][51].

证券之星消息，8月4日养殖业板块较上一交易日上涨0.4%，圣农发展领涨。当日上证指数报收于 3583.31，上涨0.66%。深证成指报收于11041.56，上涨0.46%。养殖业板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002714 牧原股份 | | 6971.67万 | 6.69% | 4616.01万 | 4.43% | -1.16 Z | -11.12% | | 300498 温氏股份 | | 4385.63万 | 8.58% | 2376.28万 | 4.65% | -6761.90万 | -13.22% | | 603477 | 巨星农牧 | 1896.30万 | 8.49% | 1250.29万 | 5.59% | -3146.59万 | -14.08% | | 002458 益生股份 | | 1300.19万 | 12.83% | -567.81万 | -5.60% | -7 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The agricultural sector is experiencing a marginal improvement in investment logic for live pigs, driven by both fundamental and policy factors, with expectations of a price increase in the second half of 2025 [26] - The pet sector is witnessing a rise in domestic brands, supported by consumption upgrades and tariff barriers, with a projected market size growth of over 10% annually from 2025 to 2027 [28][29] Summary by Sections Weekly Observation - The national pig price is under pressure due to group weight reduction and increased market supply, with an average price of 14.02 CNY/kg as of August 3, 2025, down 0.57% from the previous week [5][14] - The average weight of pigs sold has decreased to 127.98 kg, reflecting a downward trend due to weight reduction policies and slow growth in high temperatures [16] Weekly Insights - The investment logic for live pigs is improving, with expectations of price support in the second half of 2025 due to a combination of fundamental and policy factors [26] - The feed sector is benefiting from a recovery in domestic livestock and poultry production, with a total feed output expected to reach 1.4 trillion CNY in 2023 [26] Market Performance - The agricultural sector underperformed the broader market by 2.03 percentage points, with the agricultural index declining by 2.97% during the week [30][31] - The animal health sector showed the highest gains, with stocks like Shenlian Biological and Huisheng Biological leading the performance [30] Price Tracking - As of August 1, 2025, the average price for live pigs was 14.33 CNY/kg, with a slight increase of 1.27% from the previous week [42] - The average price for corn was 2,296 CNY/ton, down 0.78% week-on-week, while soybean meal was priced at 3,004 CNY/ton, down 0.69% [60] Key News - The overall situation in China's livestock industry is stable and improving, with a reported production increase of 2.8% in meat output during the first half of 2025 [38] - The number of breeding sows has decreased slightly, indicating a potential reduction in pig supply, which may stabilize prices [38]