Di Yi Cai Jing·2025-07-13 01:56Core Viewpoint - The domestic pig farming industry is experiencing a weak price environment due to strong supply and weak demand, leading to a slow recovery in profitability for listed pig companies [3][4][9] Group 1: Sales Performance of Listed Pig Companies - In June, the average sales price of live pigs for listed companies generally declined year-on-year and month-on-month, with a drop of 15% to 20% [4][5] - Muyuan Foods (002714.SZ) achieved a record monthly sales volume of 7.019 million pigs in June, with a month-on-month increase of 9.57%, resulting in a sales revenue of 12.799 billion yuan, a year-on-year increase of 27.65% [5][6] - Wens Foodstuff Group (300498.SZ) maintained a sales volume of over 3 million pigs, selling 3.0073 million pigs in June, with a revenue of 4.92 billion yuan, reflecting a month-on-month price drop of 1.98% [6] - Smaller pig companies showed significant sales variation, with some doubling their sales while others saw a decrease of over 10% [4][5] Group 2: Market Trends and Price Movements - The pig price hit a 16-month low in June, dropping to 13.96 yuan/kg, but began to recover in July, reaching 15.31 yuan/kg, the highest since the Spring Festival [4][8] - The agricultural authorities are guiding the industry towards destocking and capacity reduction, indicating that the current pig cycle has moved past its bottom [3][9] - Analysts suggest that the "anti-involution" measures may help stabilize prices and improve profitability in the long term, as the industry shifts towards higher quality competition [9][10] Group 3: Future Outlook - The Ministry of Agriculture plans to reduce the breeding sow inventory by approximately 1 million heads to optimize production and improve quality [10] - The industry is expected to enter a new era of high-quality competition, with a focus on cost management and disease prevention becoming critical for large-scale farming enterprises [10] - The supply constraints in the pig industry may become a new normal, with limited expansion expected in the coming years, potentially leading to improved profitability for quality enterprises [10]