农林牧渔周报（第29期）：高盈利&低估值，重视养殖板块的投资机会

Investment Rating - The report maintains a positive outlook on the livestock sector, with specific recommendations for companies within the industry [2][12]. Core Insights - The report highlights that the livestock industry is expected to experience a favorable environment with rising pig prices and profitability in the medium term, despite short-term fluctuations due to weak summer consumption [2][12]. - Current valuations of individual stocks are at historically low levels, suggesting potential for upward movement [12]. Summary by Sections Market Review - The agricultural sector outperformed the market, driven by significant gains in the livestock industry, with the agricultural index rising by 3.7% compared to a 0.37% increase in the Shanghai Composite Index [2][16]. Livestock Industry 1. Pork: - The price of live pigs is on an upward trend, with the national average price at 18.98 yuan/kg, reflecting a weekly increase of 0.22 yuan. The average weight of pigs post-slaughter is 91.42 kg, up by 0.1 kg [12][8]. - The supply of pigs is expected to tighten due to previous capacity reductions, with a forecast for prices to gradually rise in the second half of 2024 [12][8]. 2. Poultry: - Chicken prices are currently under pressure, with the average price for white feather broilers at 3.74 yuan/kg, showing a slight increase of 0.09 yuan. The industry is experiencing losses, but a rebound in prices is anticipated as capacity adjustments occur [13][14]. - Yellow chicken prices are also expected to rise, with the average price at 13.93 yuan/kg, reflecting a monthly increase of 0.43 yuan [14]. 3. Animal Health: - The animal health sector is projected to recover gradually, driven by rising demand for veterinary products as pig prices increase. The introduction of new vaccines is expected to enhance growth prospects for leading companies in this space [4][14]. Crop Industry 1. Seed Industry: - The seed industry is benefiting from favorable government policies and the ongoing commercialization of genetically modified crops, which is expected to enhance the performance of leading seed companies [5][14]. 2. Grain Prices: - Recent stabilization in grain prices is noted, with corn and wheat prices at 2530 yuan/ton and 2502 yuan/ton, respectively. Anticipated adverse weather conditions may lead to a rebound in prices [15][14]. Stock Recommendations - Specific companies such as Tian Kang Biological, Keqian Biological, and Tang Ren Shen are recommended for investment, with a "Buy" rating due to their favorable market positions and low valuations [2][12].