Di Yi Cai Jing·2025-12-02 00:19Core Viewpoint - The report from CITIC Securities indicates that the destocking of breeding sows accelerated in October, leading to a sustained loose supply situation in the industry, which is putting pressure on pork prices. However, the ongoing destocking is expected to support the cyclical recovery starting in the second half of 2026 [1]. Group 1: Industry Supply and Pricing - The supply side of the industry continues to maintain a loose situation, resulting in fluctuations and pressure on pork prices [1]. - The ongoing destocking process is anticipated to continue, which may enhance the cyclical prosperity and its duration post-2026 H2 [1]. Group 2: Investment Recommendations - The report recommends focusing on leading companies with strong cash flow and dividend capabilities [1]. - It also suggests investing in cost-leading companies [1]. - Additionally, companies that are involved in mergers and acquisitions for growth are highlighted as potential investment opportunities [1].