Mei Ri Jing Ji Xin Wen·2025-12-17 02:51Group 1 - The core viewpoint is that the pig farming industry is expected to experience a potential reversal in 2026, driven by policy guidance and market losses leading to accelerated capacity reduction, which lays the foundation for pig prices to stabilize and rise [1] - Major institutions, including Dongfang Securities and Zhongtai Securities, believe that 2026 will mark an upward turning point for agriculture, with livestock and planting sectors expected to gain momentum sequentially [1] - The livestock sector is anticipated to hit bottom in the first half of 2026, influenced by high capacity bases, efficiency improvements, ongoing bottom-fishing activities, and low grain prices, indicating a complex and prolonged reversal process [1] Group 2 - The Agricultural 50 ETF (516810.SH) passively tracks the CSI Agricultural Theme Index (000949.CSI), which is more balanced and comprehensive compared to other livestock and grain indices, covering livestock (39.98%), agricultural chemicals (18.99%), feed (12.19%), and planting (8.63%) [2] - The current overall valuation of the agricultural index (PE-TTM) is 19.56 times, which is in the bottom 12.05% range over the past decade, indicating a significant undervaluation and attractive cost-performance ratio [2]