农林牧渔行业周观点：双十一销售表现亮眼，宠物食品赛道景气依旧

Investment Rating - The report maintains a "Positive" investment rating for the agriculture, forestry, animal husbandry, and fishery industry, indicating an expectation for the industry to outperform the overall market [1][2]. Core Insights - The report highlights the continued strong performance in the pet food sector, with significant sales growth during the "Double 11" shopping festival, where pet category sales increased by over 40% [1][2]. - The commercialization of genetically modified corn is set to begin in 2024, marking a pivotal year for the industry, with a focus on the harvest and profit-sharing among companies [1][2]. - Key companies to watch include pet food brands such as Guibao Pet, Zhongchong Co., and Petty Co., as well as agricultural companies like Longping High-Tech, Dabeinong, and Denghai Seeds [1][2]. Weekly Market Performance - The Shenwan Agriculture, Forestry, Animal Husbandry, and Fishery Index rose by 1.3%, while the CSI 300 Index fell by 1.7% [2][5]. - Top-performing stocks included Langyuan Co. (35.9%), Quanyin High-Tech (34.0%), and Haodangjia (24.1%) [2][5]. Pet Food Sector - The pet food category saw remarkable sales during the "Double 11" event, with several brands achieving over 100 million yuan in sales [1][2]. - The report emphasizes the high growth potential for domestic brands in the pet food market, with a notable increase in market share and profitability expected [1][2]. Livestock Farming - The report notes a slight decline in pig prices, with the average selling price for pigs at 17.22 yuan/kg, down 1.3% week-on-week [1][2]. - Major companies like Muyuan Foods reported significant profit growth, with a net profit of 9.652 billion yuan in Q3 2024, reflecting a year-on-year increase of 930.2% [1][2]. Chicken Farming - The report indicates a slight decrease in chick prices, with the average price for white feather broiler chicks at 4.26 yuan/chick, down 1.39% week-on-week [1][2]. - The overall market for chicken remains under pressure due to weak demand, although there are expectations for marginal improvements in profitability [1][2].