农林牧渔行业简评报告：猪价北高南低，肉鸡短期窄幅震荡

Investment Rating - The industry investment rating is "Positive" [29] Core Insights - The report indicates that pig prices are high in the north and low in the south, while broiler chicken prices are expected to fluctuate within a narrow range in the short term [3] - The average price of live pigs in China as of September 20, 2024, is 18.71 CNY/kg, with a daily decline of 1.01%. Prices in regions like Xinjiang have dropped to as low as 17.8 CNY/kg, while areas like Zhejiang and Jiangsu maintain prices above 19 CNY/kg [5][12] - The supply of live pigs is relatively ample due to increased slaughter plans from large enterprises and strong selling sentiment among farmers. The demand for pork is underwhelming, with a noticeable decrease in slaughtering rates compared to pre-holiday levels [5] - The average price of broiler chickens as of September 23, 2024, is 7.18 CNY/kg, reflecting a week-on-week decrease of 2.97%. The market supply of chickens is relatively sufficient, and terminal consumption has not shown significant improvement [5][14] Summary by Sections 1. Important Information Update - The agricultural sector saw a decline of 0.37% last week, underperforming the Shanghai Composite Index by 1.58 percentage points. The top-performing sectors included agricultural processing and aquaculture [8] 2. Industry Data Tracking - As of September 23, 2024, the agricultural product wholesale price index decreased by 0.10% to 133.84, with a year-on-year increase of 11.18%. Vegetable prices have risen by 13.84% year-on-year [10] - The live pig inventory increased by 1.70% month-on-month in June 2024, but decreased by 4.60% year-on-year. The inventory of breeding sows rose by 0.1% month-on-month but fell by 5.40% year-on-year [12] - The average price of live chickens decreased to 7.19 CNY/kg as of September 20, 2024, while chick prices remained at 3.72 CNY each [14] 3. Industry Information and Important Company Announcements - The State Council has emphasized the need to increase support for cattle and sheep farming and to implement relief policies to assist farmers [22] - Hainan Rubber announced it received insurance compensation totaling approximately 344.78 million CNY due to damages from Typhoon "Mojia" [23]