农业重点数据跟踪周报：宠物食品双十一增长亮眼，供应充足猪价下行

Investment Rating - The report maintains a "Positive" investment rating for the agricultural, forestry, animal husbandry, and fishery industry [3]. Core Insights - The pig farming sector is experiencing a continued decline in prices due to sufficient supply and insufficient demand support. However, medium to long-term profitability is expected to persist for enterprises in this sector [5][40]. - The poultry farming sector shows stable prices for white chickens, with significant increases in breeding and self-breeding quantities [5][57]. - The animal health industry is anticipated to see a rebound in demand, driven by the pig farming cycle, with companies actively developing new products [5]. - The seed industry is progressing in the commercialization of genetically modified crops, with a focus on major varieties benefiting from early advantages [5][64]. - The pet food sector is witnessing strong growth, particularly in exports and during the Double Eleven shopping festival, indicating robust market potential [5]. Summary by Sections Pig Farming - Prices for pigs continue to decline, with the average price on November 14 being 16.63 CNY/kg, down 2.92% week-on-week. The number of breeding sows is recovering slowly, with a month-on-month increase of 0.39% in October [5][49][40]. - The overall supply is adequate, but demand remains weak, leading to cautious industry sentiment [5][40]. Poultry Farming - The breeding quantity for white chickens in October was 190,600 sets, showing a month-on-month increase of 38.12% and a year-on-year increase of 81.52% [5][57]. - The average price for white feathered chickens was stable at 7.64 CNY/kg as of November 15 [5][59]. Animal Health - The industry is expected to see a recovery in demand, with sales data showing a significant increase in the third quarter of 2024 [5]. - Companies are focusing on new product development, which is likely to enhance growth opportunities [5]. Seed Industry - The USDA report indicates adjustments in global corn and soybean production, with a focus on the commercialization of genetically modified varieties [5][64][65][66]. - Companies with a diverse portfolio of major varieties are expected to benefit the most [5][64]. Pet Food - Export data for pet food shows improvement, with retail packaging for dog and cat food exports increasing by 37.9% and 28.4% respectively from January to September 2024 [5]. - The Double Eleven shopping festival saw over 50% year-on-year growth in transaction amounts for pet food [5].