畜牧ETF(159867)涨近1%，板块仍处于低估水平

Group 1 - The average price of pork in the national agricultural wholesale market is 18.72 yuan per kilogram, an increase of 0.3% compared to the previous day, indicating a potential recovery in profitability for pig farming as the supply of live pigs decreases towards the end of the second quarter [1] - Under the guidance of the "anti-involution" policy in the pig industry, capacity reduction is progressing alongside policy adjustments, leading to an accelerated decline in the number of breeding sows after a slow decrease in previous months [1] - The domestic pig price is expected to maintain a trend of capacity reduction during the off-season in the first half of the year, which may lead to a recovery in the fundamentals and valuations of the pig farming industry, currently at a low market expectation and valuation level [1] Group 2 - As of December 31, 2025, the top ten weighted stocks in the CSI Livestock Breeding Index (930707) include Muyuan Foods, Haida Group, Wen's Foodstuffs, Zhengbang Technology, New Hope, Meihua Biological, Bio-Stock, Dabeinong, Shennong Development, and Lihua Co., accounting for a total of 67.66% of the index [2]