养殖业2024年11月生猪销售跟踪：出栏环比上升，体重环比微降

Investment Rating - The report maintains an "Accumulate" rating for the industry [1] Core Viewpoints - The industry shows an increase in the number of pigs sold, with a total of 14.377 million pigs sold in November 2024, representing a year-on-year increase of 4.2% and a month-on-month increase of 0.55% [3][16] - The average selling price of pigs in November 2024 was 16.56 yuan/kg, which is a decrease of 5.9% compared to the previous month [20] - The average weight of pigs sold in November 2024 was 124 kg for Muyuan Foods, 125 kg for Wens Foodstuffs, and 125 kg for Lihua Agricultural [3][16] Summary by Sections Pig Sales and Prices - In November 2024, 18 listed pig farming companies reported a total of 14.377 million pigs sold, with a cumulative total of 141.24 million pigs sold from January to November, marking a year-on-year increase of 2.9% [3][16] - The average price of pigs sold was above 16.0 yuan/kg, with the highest price at 18.34 yuan/kg from Dongrui Co., and the lowest at 15.76 yuan/kg from Tiankang Biological [20][21] Seasonal Demand and Price Fluctuations - The report notes a delay in seasonal demand realization, leading to price fluctuations. As of December 17, 2024, the national average price of pigs was 15.80 yuan/kg, down 2.6% from the same period in November [4][25] - The profitability for self-breeding pigs was reported at 132.52 yuan per head, a decrease of 74.01 yuan from the previous month, while the loss for purchased piglets was 95.65 yuan per head, down 52.09 yuan [25] Investment Recommendations - The report suggests focusing on leading companies with cost advantages and high growth potential, including Muyuan Foods, Wens Foodstuffs, Tangrenshen, Tiankang Biological, Xinwufeng, Jingji Zhino, Huaton Co., Juxing Agriculture, and New Hope [5][30]