农林牧渔行业周报：生猪出栏均重上行，关注旺季消费情况

Investment Rating - The report maintains a "Buy" rating for the food and beverage sector [3] Core Insights - The report highlights a positive trend in the pig farming sector, with expectations of price rebounds due to improved consumer demand before the New Year [4][69] - The planting industry is experiencing price adjustments, with a focus on the importance of seed industry revitalization amid global uncertainties [5][70] - The poultry farming sector is currently facing price declines but is anticipated to recover as consumer demand improves [6][71] Summary by Sections Pig Farming - As of December 13, the national commodity pig price is 15.75 yuan/kg, down 2.96% week-on-week; the price for 15 kg piglets is 458 yuan/head, down 12 yuan/head from last week [4][69] - The average weight of pigs slaughtered this week is 129.52 kg/head, an increase of 1.49 kg from last week [4][69] - The report anticipates a rebound in pig prices due to increased demand in southern regions and a projected good profitability for Q4 [4][69] Planting Industry - Grain prices are adjusting downward, with corn prices under pressure; however, leading companies are performing well [5][70] - The report emphasizes the significance of food security in China and the ongoing commercialization of genetically modified seeds, which may command higher premiums [5][70] - Companies with core breeding advantages are recommended for investment [5][70] Poultry Farming - The average price for white feather chickens is 7.53 yuan/kg, down 0.26% week-on-week; the price for dressed chickens is 14.25 yuan/kg, up 0.35% [6][71] - The report notes a significant impact from avian influenza in the U.S., which may affect supply if import restrictions are imposed [6][71] - It is expected that as macro policies adjust, consumer demand will gradually recover, leading to improved profitability in the poultry sector [6][71]