农产品研究跟踪系列报告（137）：10月末官方能繁存栏维持低位，看好生猪景气持续

Investment Rating - The report maintains an "Outperform" rating for the agricultural sector, specifically focusing on livestock and related industries [4]. Core Insights - The report is optimistic about low-level investments in livestock, particularly in pig farming, with expectations of price increases in the second half of the year [2]. - The report highlights a strong performance in pig prices, with a forecast for continued upward trends in 2024-2025 [5]. - The poultry sector is expected to see improvements in demand, with a potential synchronization of price increases between pigs and chickens [2]. - The report emphasizes the importance of new product developments in animal health, particularly vaccines for African swine fever and pet vaccines [2]. - The meat processing sector, particularly companies like Shuanghui Development, is expected to benefit from rising pig prices and increased profitability [2]. - The feed and pet sectors are projected to consolidate towards technology service companies, with a positive outlook for companies like Haida Group [2]. - The planting chain is anticipated to experience growth due to the commercialization of genetically modified crops, benefiting leading seed companies [2]. Summary by Sections 1. Livestock - Pig prices are showing a strong performance, with a current price of 16.48 yuan/kg, reflecting a week-on-week increase of 1.17% [5]. - The report recommends several companies for investment in pig farming, including Muyuan Foods, Huadong Food, and Juxing Agriculture [2]. 2. Poultry - The white chicken market is expected to have sufficient supply in the medium term, with potential for high profitability as pig prices rise [2]. - The report suggests investment in poultry companies such as Lihua Stock and Yisheng Stock [2]. 3. Feed and Pet - The feed industry is expected to focus on technology services, with Haida Group highlighted as a key player [2]. - The pet sector is showing strong export performance, indicating potential growth opportunities [2]. 4. Planting Chain - The commercialization of genetically modified crops is expected to lead to significant growth for leading seed companies [2]. - Companies like Hainan Rubber and Longping High-Tech are recommended for investment in the planting sector [2].