农业行业周报：仔猪价格回暖，橡胶价格保持强势

Investment Rating - The report assigns a "Buy" rating to Haida Group and "Hold" ratings to Wens Foodstuffs, Muyuan Foods, and Pulaike [1][2]. Core Insights - The agricultural sector outperformed the market, with the agricultural index rising by 1.27% while the CSI 300 index fell by 1.68% during the reporting period [4][8]. - The report indicates a positive outlook for pig prices, suggesting a potential rebound due to seasonal demand and supply dynamics [4][22]. Summary by Sections Market Review - The agricultural sector ranked 10th among 31 sub-industries, with notable performances in the fishery sector (+8.02%) and planting sector (+5.38%) [4][8]. Price Trends - As of November 1, the average price of live pigs was 17.33 CNY/kg, reflecting a week-on-week decrease of 1.37%. The price of broiler chickens was 3.82 CNY/500g, up 2.41% week-on-week, while chick prices remained stable at 4.70 CNY each [22][4]. Valuation Levels - As of November 1, 2024, the agricultural sector's price-to-earnings (P/E) ratio was 23.30, compared to the CSI 300's P/E ratio of 10.98. The price-to-book (P/B) ratio for the agricultural sector was 2.40, while the CSI 300's P/B ratio was 1.22 [11][12]. Key Company Announcements - Shennong Group reported a revenue of 4.078 billion CNY for the first three quarters of 2024, a year-on-year increase of 42.11%, with a net profit of 480 million CNY, up 321.2% [14]. - Muyuan Foods announced a revenue of 96.775 billion CNY for the first three quarters, a year-on-year increase of 16.64%, with a net profit of 10.481 billion CNY, up 668.90% [15].