养殖ETF（159865）上一交易日净流入超2.3亿，关注“含猪量”约60%的养殖ETF（159865）

Core Viewpoint - The swine breeding industry is experiencing dual catalysts from both fundamental and policy aspects, enhancing the motivation for capacity reduction [1] Industry Summary - As of the end of August, the national breeding sow inventory stands at 40.38 million heads, reflecting a month-on-month decrease of 0.1% and a reduction of 340,000 heads from the peak at the end of last year [1] - Major production areas are facing an average loss of 74 yuan per head, with the loss margin widening [1] - The occurrence of African swine fever in Vietnam and Guangxi, combined with signals from the National Development and Reform Commission regarding capacity reduction policies, has significantly increased market-driven capacity reduction motivation [1] - Current market valuations for breeding listed companies are at historical low levels, highlighting long-term investment value [1] Company Summary - The Livestock ETF (159865) tracks the China Securities Livestock Index (930707), which selects listed companies involved in livestock feed, vaccines, breeding, and slaughtering to reflect the overall performance of the livestock industry [1] - This index focuses on upstream enterprises in the agricultural and food supply chain, demonstrating strong industry representativeness [1]