生猪产能调控成效显现，畜牧ETF(159867)红盘蓄势

Group 1 - The China Agricultural Economic and Development Research Institute released the "China Agricultural Industry Development Report 2025," predicting that China's agricultural production will continue to improve, with total grain output expected to reach 1.426 trillion jin by 2025 [1] - The report indicates that in 2024, China's grain production will surpass 1.4 trillion jin for the first time, with an increase of 5.1 jin per mu in yield, and record high production of eggs and aquatic products [1] - The livestock ETF has shown strong performance, with an average daily trading volume of 21.78 million yuan over the past year and a 4.24% annualized return exceeding the benchmark over the last three months [1] Group 2 - The pig farming sector is currently facing constraints in supply due to factors such as the reduction of breeding sows and the early market release of commercial pigs, which may lead to favorable conditions for pig prices in the long term [2] - The valuation levels of the pig farming sector are at historical lows, presenting good cost-performance ratios, and the advantages of leading companies in the industry are enhancing their dividend attributes [2] - The top ten weighted stocks in the China Livestock Breeding Index account for 68.9% of the index, including companies like Haida Group, Muyuan Foods, and Wens Foodstuff [2]