牧原股份：上调2025年仔猪出栏量预计区间至“1200万头-1450万头”

Core Insights - The company reported a total sale of 5.573 million pigs in September 2025, reflecting a year-on-year change of 11.05% [1] - The average selling price of pigs was 12.88 yuan per kilogram, showing a year-on-year decrease of 30.94% [1] - The total sales revenue from pig sales amounted to 9.066 billion yuan, which is a year-on-year decline of 22.46% [1] - The company has a breeding sow inventory of 3.305 million heads [1] - For the period from January to September 2025, the company sold 11.571 million piglets, with an updated forecast for piglet output now estimated to be between 12 million and 14.5 million heads, revised from the previous range of 8 million to 12 million heads [1]