农业行业周报：本周猪价震荡运行，后续关注冬季疫病影响

Investment Rating - The report maintains a "Buy" rating for the agriculture sector, indicating a favorable outlook for investment opportunities in this industry [4]. Core Insights - The agriculture sector outperformed the CSI 300 index, with the Agricultural, Forestry, Animal Husbandry, and Fishery index rising by 1.27% from October 28 to November 1, while the CSI 300 index fell by 1.68%. The fisheries (+8.02%) and planting industry (+5.38%) showed the highest gains, while agricultural product processing (-1.24%) lagged behind [1][3]. - In the pig farming sector, the price of live pigs was reported at 17.34 CNY/kg on November 1, a decrease of 1.08% week-on-week. The profit from self-breeding and self-raising pigs was 284.19 CNY per head, down 1.77% from the previous week. The report suggests a relatively good supply-demand balance and recommends active investment in the pig farming sector, particularly in companies like Wens Foodstuffs, Muyuan Foods, Tian Kang Biological, and Shennong Group [1][3][16]. - The chicken farming sector showed a price increase for yellow feathered chickens, with a recommendation to focus on Lihua Stock. The white feathered chicken sector is undergoing adjustments, with a focus on profitability and market dynamics [2][3]. Summary by Sections 1. Performance Overview - The agriculture sector has shown resilience, outperforming the broader market indices, with notable gains in fisheries and planting sectors [1][3]. 2. Key Data Tracking (a) Pig Farming Industry Data - As of November 1, the pig farming sector's price-to-book ratio (PB) was 2.86, down 4.98% week-on-week. The average price of live pigs was 17.34 CNY/kg, with a profit of 284.19 CNY per head for self-breeding pigs [1][16]. (b) Chicken Farming Industry Data - The PB for the chicken farming sector was 1.76, with the average price of white feathered chickens at 3.82 CNY per jin, reflecting a week-on-week increase of 1.46% [2][3]. (c) Feed Industry Data - The report highlights the current prices of key feed ingredients, with corn at 2242 CNY/ton and soybean meal at 3065 CNY/ton, indicating slight fluctuations in the market [2][3]. 3. Investment Recommendations - The report suggests focusing on specific companies within the agriculture sector, including Wens Foodstuffs, Muyuan Foods, Tian Kang Biological, Shennong Group in pig farming, Lihua Stock in chicken farming, and Haida Group in feed production [3][4].