Xin Hua Cai Jing·2025-09-05 04:47Group 1 - The core viewpoint of the report suggests that pig prices will experience weak fluctuations in the second half of 2025, with a focus on observing the progress of capacity reduction [1] - The report recommends leading companies with strong cash flow and dividend capabilities, as well as those that can achieve growth through mergers and innovations [1] - The post-cycle prosperity is expected to continue, with a positive trend for major products in the seed industry and increasing market share for certain companies [1] Group 2 - In the pig farming industry, the report indicates that industry capacity will gradually increase in the first half of 2025, leading to a downward trend in pig prices, with an average industry price of 14.55 yuan/kg in Q2 2025, reflecting a 3.1% decrease quarter-on-quarter and an 11.2% decrease year-on-year [1] - Benefiting from lower feed prices and improved efficiency, most listed companies are expected to see a continued decline in costs in the first half of 2025 [1] - Following national capacity control policies, leading companies have begun to reduce the number of breeding sows and the weight of market pigs, with capital expenditures slowing down and debt ratios decreasing in Q2 [1] - Looking ahead, while supply pressure in the pig market remains, initial results from weight reduction efforts and the upcoming consumption peak suggest limited downward space for pig prices in the second half of 2025 [1] - The report anticipates a gradual reduction in capacity and a stabilization of pig prices in the medium term, with a potential reshaping of industry valuation models [1]