农林牧渔行业周报：白鸡上游景气延续

Investment Rating - The report maintains an "Overweight" rating for the industry [1] Core Views - The upstream of white chicken continues to show a prosperous trend, with meat chick prices increasing by 1.2% week-on-week to 4.17 CNY per chick, and a year-on-year increase of 83.7% [2][10] - The average price of parent stock chicks rose by 14.7% week-on-week to 57.21 CNY per set, with a year-on-year increase of 4.6% [10] - The report suggests focusing on the performance elasticity opportunities of breeding companies in the white chicken sector [11] Summary by Sections Swine Farming - The national price for lean pigs is 16.73 CNY/kg, down 3.4% from last week, but expected to rise due to seasonal demand recovery [3][12] - Current valuations are relatively low, with a focus on leading companies with cost-effectiveness such as Muyuan Foods and Wens Foodstuff Group [3][12] Poultry Farming - The average price of broiler chickens remains stable at 7.64 CNY/kg, while chicken product prices decreased by 0.5% to 9.20 CNY/kg [12][19] - The report highlights the potential for price recovery in the white chicken market and suggests monitoring companies like Yisheng Livestock and Shennong Group [12][19] Planting and Agricultural Products - The approval of genetically modified varieties is expected to lead to commercial sales, with significant growth potential for industry companies [3][12] Breeding Support - The report notes increased price volatility in agricultural products, with leading feed companies likely to replace smaller firms due to their advantages [13] Agricultural Data Tracking - The average wholesale price of pork is 24.24 CNY/kg, down 0.8% from last week, indicating a downward trend in pig prices [14][15]