养殖业2024年10月家禽销售跟踪：白鸡苗价持续攀升，黄鸡价格平稳

Investment Rating - The report maintains an "Overweight" rating for the industry [1] Core Viewpoints - The price of white chicken seedlings continues to rise, while chicken meat prices remain weak. In October 2024, the average price of chicken seedlings in major production areas was 4.15 CNY per bird, a month-on-month increase of 16.3% [3][13] - The overall production capacity of yellow feathered chickens is low but is undergoing structural optimization. Price changes depend on substitutes and consumption patterns [5] - The price of egg chicken seedlings shows a significant recovery, with a focus on companies that have price elasticity [5] Summary by Sections White Feathered Chicken - The average price of chicken seedlings in October was 4.15 CNY per bird, with a month-on-month increase of 16.3%. Major companies like Yisheng and Minhe reported average prices of 4.9 CNY and 4.2 CNY per bird, respectively, with increases of 19.0% and 17.7% [3][13] - Chicken meat prices in October fell to an average of 9183 CNY per ton, a decrease of 0.7% month-on-month. Companies like Shengnong and Xiantan had average sales prices of 9675 CNY and 9340 CNY per ton, with Shengnong increasing by 2.5% and Xiantan decreasing by 2.1% [3][13] Yellow Feathered Chicken - In October, companies like Wens, Lihua, and Xiangjia sold 118.8 million, 47.6 million, and 4.34 million chickens, respectively, with year-on-year increases of 7.0%, 19.5%, and 8.1% [4][23] - The average selling prices for these companies were 13.3 CNY, 13.0 CNY, and 11.0 CNY per kilogram, showing minor fluctuations [4][23] Egg Chicken Seedlings - In October, Xiaoming sold 23.48 million egg chicken products, a year-on-year increase of 15.2%. The average price was 3.68 CNY per bird, up 41% year-on-year but down 0.7% month-on-month [34][37] Investment Recommendations - For white feathered chickens, focus on companies like Shengnong Development, which have independent breeding sources and are involved in both breeding and food sectors. Other companies to watch include Yisheng, Hefeng, Minhe, and Xiantan [5] - For yellow feathered chickens, monitor companies like Lihua and Wens, as price changes are influenced by seasonal performance and the relationship with pork prices [5] - For egg chicken seedlings, pay attention to Xiaoming, which shows price elasticity [5]