农林牧渔行业周报：旺季虽迟终至，猪价酝酿反弹

Investment Rating - The report maintains an "Overweight" rating for the agricultural sector [3]. Core Views - The recent increase in pig prices indicates a potential rebound, with the current price at 16.41 CNY/kg, up 0.4% from last week [3][18]. - Seasonal consumption factors are expected to amplify their impact on pig prices as the year-end approaches, despite current low slaughter rates [3][19]. - The report highlights the potential for price increases in the pig market due to tightening supply and seasonal demand recovery [20]. Summary by Sections Weekly Insights - The agricultural sector underperformed the market by 0.2 percentage points this week, with a decline of 2.8% [10]. - The pig price has shown a continuous upward trend, with a notable rebound from a low of 16.1 CNY/kg [3][18]. Agricultural Data Tracking - The average price for pork is reported at 23.48 CNY/kg, down 1.6% from the previous week [23][24]. - The average slaughter weight for pigs is stable at 91.11 kg, indicating a tight supply situation [19][27]. Pig Farming - The report notes a 0.4% increase in the price of lean pigs, with expectations for further price increases due to reduced supply and seasonal demand [20]. - The report suggests focusing on leading companies with favorable cost-performance ratios, such as Muyuan Foods and Wens Foodstuff [20]. Poultry Farming - The price of broiler chickens has increased to 7.71 CNY/kg, up 0.9%, while the average price of chicken products remains stable at 9.30 CNY/kg [20][32]. - The price of broiler chicks has risen by 7.7% to 4.47 CNY each, indicating a recovery in sentiment [20][36]. Crop and Agricultural Products - The approval of genetically modified varieties is expected to enhance the growth potential of industry companies, with commercial sales anticipated to begin soon [20][21]. Livestock Support - The report emphasizes the increasing price volatility in agricultural products, suggesting that leading feed companies may replace smaller competitors due to their advantages in procurement and scale [21].