WENS FOODSTUFF GROUP CO.(SZ:300498) Yong Xing Zheng Quan·2025-06-24 04:07Investment Rating - The industry investment rating is maintained as "Increase" for the agricultural sector [6] Core Viewpoints - The agricultural sector underperformed the market by 2.68 percentage points during the week of June 16-20, 2025, with the index closing at 2,640.23, down 3.13% [1][15] - The report highlights a rebound in pig prices from low levels, with a national average price of 14.22 CNY/kg as of June 20, 2025, reflecting a week-on-week increase of 1.43% but a year-on-year decrease of 22.59% [2] - The report suggests focusing on investment opportunities within the planting industry chain due to increasing geopolitical tensions affecting food security [4] Summary by Sections 1. Market Review - The agricultural sector index decreased by 3.13% and ranked 26th among 31 sectors [1][15] - Sub-sectors such as animal health, feed, and planting experienced declines of 2.27%, 2.43%, and 2.72% respectively [1][17] 2. Industry Dynamics 2.1 Pig Farming - There is an increase in reluctance to sell pigs, leading to a slight price rebound, with self-breeding profits at 19.40 CNY/head, up 22.30 CNY from the previous week [2] 2.2 Poultry - Chicken prices remain under pressure due to high inventory levels, with broiler chick prices dropping by 32.12% week-on-week [2] 2.3 Agricultural Products - Prices for wheat, corn, and soybean meal have shown slight increases, with wheat averaging 2,441.67 CNY/ton, up 0.46% week-on-week [3] 3. Investment Recommendations - The report recommends focusing on companies with strong cost control in pig farming, such as Muyuan Foods and Wens Foodstuffs [4] - In the poultry sector, it suggests looking at integrated leaders like Shengnong Development [4] - For feed, it highlights the potential recovery in demand due to livestock inventory restoration, recommending companies like Haida Group [4] - It emphasizes the importance of food security and suggests monitoring companies in the seed industry [4]