猪价有望开启震荡上行通道，关注养殖ETF(159865)

Core Viewpoint - The livestock sector is experiencing a moderate increase, with pig prices expected to enter a fluctuating upward channel due to a substantial reduction in supply driven by strong policy and market factors [1] Group 1: Pig Industry - The combination of strong policy-driven de-stocking and market-driven loss de-stocking will lead to a significant contraction in pig supply [1] - Pig prices are anticipated to start a fluctuating upward trend as a result of this supply contraction [1] Group 2: Chicken Industry - The yellow chicken market is seeing a seasonal increase in consumption, suggesting that prices may have reached a bottom [1] - The egg-laying chicken industry is facing a delayed impact from overseas breeding restrictions, which will gradually affect the supply of commercial chickens by 2026, leading to potential price increases for chicks and broilers [1] Group 3: Cost Factors - Global grain supply remains relatively ample, with corn and soybean meal prices likely to maintain low volatility, providing support for livestock industry profits [1] - After experiencing fluctuations and capacity reductions in 2024 and 2025, the livestock industry is expected to see a recovery in profits and valuations in 2026 [1] Group 4: Investment Opportunities - Investors interested in the livestock sector may consider focusing on livestock ETFs, specifically ETF 159865, as potential investment opportunities arise [1]