Sou Hu Cai Jing·2025-08-26 07:06Group 1 - The China Securities Agricultural and Animal Husbandry Theme Index (931778) increased by 2.41%, with notable stock performances including Muyuan Foods (002714) up 7.51%, Tiankang Bio (002100) up 6.04%, and Jiangshan Co. (600389) up 5.74% [1] - Recent policies aimed at regulating the pig farming industry have been intensively released, including a proposal from the National Development and Reform Commission in early June to not increase production capacity and to stabilize prices, followed by a meeting in late July where the Ministry of Agriculture urged core enterprises to strictly implement capacity control measures [1] - On August 13, an industry association meeting advocated for reducing production capacity to 39.5 million pigs, with several leading enterprises responding positively to the capacity control policies, indicating a reduction in the breeding sow inventory [1] - Despite continued profitability in fattening and breeding segments, the ongoing implementation of anti-involution policies and the need to mitigate pandemic risks are expected to lead to a reduction in industry capacity [1] - Glyphosate prices have rebounded from a low point, with some product demand recovering; from Q3 2025, the average market price of glyphosate increased by 11.2% compared to Q2 [1] - The pesticide industry shows rigid demand but is currently at the bottom of the industry cycle, characterized by "increased volume but reduced profits," with ongoing destocking bringing global pesticide channel inventory closer to reasonable levels [1] Group 2 - The China Construction Bank China Securities Agricultural and Animal Husbandry Theme ETF (159616) closely tracks the China Securities Agricultural and Animal Husbandry Theme Index, which selects 50 listed companies involved in grain planting, seed production, pesticide and fertilizer, agricultural machinery, livestock farming, feed production, and animal health [2]