农业农村部提示生猪产能阶段性偏高，券商：猪价中枢或上行

Core Viewpoint - The Ministry of Agriculture and Rural Affairs of China has announced a comprehensive adjustment of pig production capacity to prevent significant fluctuations in production and prices, aiming to reduce the breeding sow population by approximately 1 million heads [1] Group 1: Current Market Conditions - China's pig production capacity is currently at a phase of being excessively high, prompting the need for regulatory measures [1] - Short-term pig prices are under pressure due to factors such as high temperatures, concentrated market supply from individual farmers, and panic selling [1] Group 2: Future Outlook - As temperatures are expected to cool in late August, there may be a marginal improvement in demand, while supply tightens due to previous overselling of pigs, potentially leading to a higher price center for pigs [1] - The third quarter of 2025 is anticipated to be a critical period for policy-driven price increases and adjustments in breeding sows, with ongoing supportive policies expected to strengthen the pig sector [4]