农业行业周报：种植产业链发力，宠物双十一可期

Investment Rating - The report maintains an "Overweight" rating for the agriculture sector, consistent with the previous rating [2]. Core Insights - The planting industry chain is expected to continue its momentum following the conclusion of the U.S. elections, with a focus on reducing dependency on U.S. agricultural products and enhancing domestic food security [3]. - The pet industry shows promising growth during the Double Eleven shopping festival, with domestic brands gaining significant market share [3]. - The pig farming sector is experiencing a decline in prices, with expectations for stabilization as heavier pigs are marketed [3]. Summary by Sections Planting Industry Chain - Since 2018, China has reduced its reliance on U.S. agricultural products and has been investing in domestic grain technology. The government emphasizes food security, as highlighted in the 19th National Congress report [3]. - The potential for further tariffs from the U.S. could lead to continued reductions in imports of soybeans and corn from the U.S. [3]. - Companies with strong competitive varieties and advanced technology in seed production are expected to benefit from these trends [3]. Pet Industry - During the Double Eleven sales event, pet consumption demonstrated robust growth, with Tmall reporting a doubling of transaction volume for 658 brands within the first four hours [3]. - Domestic brands are increasingly dominating the market, with six out of the top seven brands in sales being local [3]. Pig Farming - The average price of live pigs has decreased to 19.15 yuan/kg, a decline of 0.24 yuan/kg week-on-week [4]. - The average weight of pigs at market is stable at 125.23 kg, with expectations for price stabilization in mid to late November as heavier pigs are sold [4]. - The report suggests monitoring the progress of heavier pig sales to assess future price movements [4]. Investment Recommendations - Recommended stocks in the poultry sector include: Shengnong Development, Yisheng Shares, Lihua Shares, and Xiangjia Shares [4]. - For the pig farming sector, recommended stocks include: Muyuan Foods, Wen's Foodstuffs, Tiankang Biological, and Shennong Group [4]. - In the seed industry, recommended stocks are: Dabeinong and Longping High-Tech [4]. - Beneficiaries in the pet sector include: Guibao Pet and Zhongchong Shares [4].