农林牧渔行业周报：需求如期上量，年底猪价反弹启动

Investment Rating - The report maintains a "Buy" rating for the agriculture, forestry, animal husbandry, and fishery industry [4] Core Views - Demand recovery is supporting the rise in pork prices, with the average price of live pigs at 16.47 yuan/kg, a week-on-week increase of 0.80% as of November 29 [52] - The report highlights a seasonal increase in demand for pork driven by holiday consumption and regional market demand [52] - The white feather broiler market is experiencing price declines, but there is still support for chicken prices due to pre-Spring Festival demand [55] Summary by Sections 1. Industry Performance - The agriculture, forestry, animal husbandry, and fishery sector outperformed the broader market indices, with a weekly increase of 3.24% [41] - Sub-sectors such as aquaculture, animal health, and planting showed significant gains, with increases of 11.07%, 6.00%, and 5.28% respectively [41] 2. Key Data Tracking 2.1 Swine - The average weight of pigs at slaughter is 127.35 kg, up 0.62 kg week-on-week, indicating improved fattening efficiency [52] - The cold storage capacity of slaughterhouses is at 13.37%, down 0.05 percentage points week-on-week [52] 2.2 White Feather Broilers - The price of white feather broilers is 7.7 yuan/kg, down 0.13% week-on-week, while chick prices are at 4.42 yuan, down 1.12% [55] 2.3 Yellow Feather Broilers - The price of medium-speed chickens is 6.11 yuan/斤, down 1.77% week-on-week, with overall supply remaining ample [64] 2.4 Feed Sector - Corn prices are at 2,196.27 yuan/ton, down 0.63%, while soybean meal prices remain stable at 3,012.57 yuan/ton [71] 2.5 Agricultural Products - The wholesale price of sugar is 6,155 yuan/ton, up 0.98%, while cotton prices are slightly down to 15,279 yuan/ton [81] 3. Investment Recommendations - The report recommends focusing on swine farming companies such as Muyuan Foods, Wens Foodstuff Group, and Shennong Group due to expected price stability [88] - It also suggests monitoring companies in the feed and animal health sectors, as well as those in the pet food industry, which is expected to see continued growth [88]