农业重点数据跟踪周报：需求预期转好，畜禽价格支撑增强

Investment Rating - The report maintains a "Positive" investment rating for the agricultural sector [1]. Core Insights - The report highlights an improvement in demand expectations and support for livestock prices, particularly in the pig farming sector, where prices are expected to rebound after a recent decline [2][10]. - The report emphasizes the cautious sentiment in the industry, with slow capacity recovery but potential for profitability in pig farming [2][10]. - The report notes a significant increase in the import and export of pet food, indicating a positive trend in the pet food market [2]. Summary by Sections Pig Farming - Supply of pigs decreased at the end of last month, leading to a rise in prices after an initial drop. The number of breeding sows is recovering slowly, with a September count of 40.62 million, up 0.60% month-on-month [2][12]. - The average price of market pigs as of October 31 was 17.35 CNY/kg, showing a slight week-on-week decline of 0.34% [21][24]. - The report recommends continued investment in pig farming companies such as Muyuan Foods, Wens Foodstuff, and others due to expected profitability [2][3]. Poultry Farming - The price of white chickens has increased due to a shortage of supply, with a notable rise in breeding stock imports [2][30]. - The average price of white feather broilers was reported at 7.64 CNY/kg as of November 1, reflecting a week-on-week increase of 1.46% [31]. Animal Health - The demand for animal health products is expected to recover, driven by rising pig prices and new product developments by companies in the sector [2]. Seed Industry - The report highlights ongoing advancements in the commercialization of genetically modified crops, with a focus on companies with a strong portfolio of major crop varieties [34]. - The USDA's October report indicated a reduction in global production forecasts for soybeans and corn, impacting commodity prices [35]. Pet Food Market - The export of retail packaged dog and cat food has shown significant growth, with year-on-year increases of 37.9% for dog food and 28.4% for cat food in the first nine months of 2024 [2].