农林牧渔行业报告：猪价偏弱运行

Industry Investment Rating - The investment rating for the agriculture, forestry, animal husbandry, and fishery industry is "Outperform the Market" [1] Core Viewpoints - The industry index experienced a decline of 0.86%, ranking 17th among 31 primary industries, despite favorable policies from the "No. 1 Document" [2][13] - The pig market is characterized by strong supply and weak demand, leading to a downward trend in prices, with the average price of live pigs at 14.65 yuan/kg, down 0.14 yuan/kg from the previous week [3][16] - The white feather chicken market saw a rebound in prices after a significant drop, with chick prices at 2.55 yuan/chick, up 0.3 yuan/chick, and meat chicken prices at 3.05 yuan/jin, up 10.78% [5][27] Summary by Relevant Sections Market Performance - The agriculture sector showed significant volatility, with the agriculture, forestry, animal husbandry, and fishery index down 0.89%, while the Shanghai and Shenzhen 300 index fell by 2.22% and the Shanghai Composite Index by 1.72% [11] Livestock Industry Chain Tracking - Pigs: The market is facing a supply surplus with a weak demand outlook, leading to a price decline. The average price of piglets is 586 yuan/head, down 5.5 yuan from the previous week. The industry anticipates a cautious increase in supply for 2025, with a current breeding stock of 40.62 million heads, down year-on-year [3][19][18] - White Feather Chicken: The market is experiencing a rebound in prices, with overall supply remaining ample. The industry is facing challenges from overseas avian influenza and domestic disease issues, but there are structural opportunities due to rapid development in domestic breeding [5][27] Planting Industry Chain Tracking - Sugar: The price of white sugar in Liuzhou is 6050 yuan/ton, down 50 yuan/ton from the previous week [30] - Soybeans: The imported price of Brazilian soybeans is 3550 yuan/ton, reflecting a 1.5% decrease [30] - Corn: The average price of corn is 2146 yuan/ton, showing a slight increase of 9 yuan/ton [32]