农林牧渔行业投资策略月报：供需博弈，8月猪价及鸡苗价均高位震荡

Investment Rating - The investment rating for the industry is "Increase Holdings" for key companies such as Muyuan Foods, Wens Foodstuff Group, and Juxing Agriculture [4]. Core Viewpoints - The pig farming industry is experiencing high price fluctuations, with a slow recovery in production capacity. The average price of live pigs in August was 20.35 CNY/kg, reflecting a month-on-month increase of 9.10% and a year-on-year increase of 19.57% [3][8]. - The white feather broiler farming sector is seeing price fluctuations in chick prices, with the average price of broiler chicks in August at 3.14 CNY/chick, up 24.14% from July [3][12]. Summary by Sections 1. Industry Overview - The pig price is experiencing high volatility, with supply increasing slowly and demand remaining weak. The average weight of pigs sold in August was 126.13 kg, a month-on-month increase of 0.48% [3][8]. - The white feather broiler chick price is fluctuating, with the average price for broiler chicks at 3.17 CNY/chick in August, reflecting a month-on-month increase of 24.14% [3][12]. 2. August Operational Situation - In August, the total number of pigs sold by 15 listed companies was 12.55 million, a year-on-year increase of 2.05% [3][18]. - The average price of broiler chickens was 3.72 CNY/kg in August, with a month-on-month increase of 1.56% [3][12]. 3. Investment Recommendations - For pig farming, it is expected that prices will remain high in September, with a slow recovery in production capacity. Recommended stocks include Muyuan Foods, Wens Foodstuff Group, and Juxing Agriculture [3][4]. - For white feather chicken farming, the demand for broiler chickens remains supported, and prices are expected to stabilize in the short term. Recommended stocks include Yisheng Livestock and Shennong Development [3][4].