养殖ETF(516760)连续6日获资金净流入，生猪板块获积极配置

Core Viewpoint - The livestock ETF (516760) is experiencing a decline, with a drop of 1.84% in early trading on September 22, 2025, while individual stocks show mixed performance [1][2] Group 1: ETF Performance - The livestock ETF has seen continuous net inflows over the past six days, with a maximum single-day net inflow of 26.96 million yuan, totaling 45.63 million yuan, averaging 7.61 million yuan per day [1] - The ETF closely tracks the CSI Livestock Breeding Index, which includes listed companies involved in livestock feed, veterinary drugs, and breeding [2] Group 2: Market Conditions - As of September 21, 2025, the average price of live pigs nationwide is 12.71 yuan/kg, reflecting a week-on-week decrease of 0.50 yuan/kg and a year-on-year decrease of 5.73 yuan/kg [1] - The average weight of pigs sold from the sample is 128.45 kg, with a week-on-week increase of 0.13 kg and a year-on-year increase of 2.49 kg [1] Group 3: Policy and Industry Outlook - The pig farming sector is currently under pressure due to policy measures aimed at capacity control and the spread of diseases, leading to a continuous low price environment [2] - A recent meeting by the Ministry of Agriculture and Rural Affairs on September 16 aims to enforce capacity reduction targets for leading pig companies, which is expected to strengthen the de-stocking expectations in the sector [2] - The current price-to-earnings ratio (PE-TTM) of the CSI Livestock Breeding Index is 14.46, indicating it is at a historical low, suggesting potential for valuation re-evaluation for quality pig companies [2]