龙头猪企5月销量普遍下滑，股价却走高，啥情况？

Core Viewpoint - The sales reports of A-share listed pig companies for May 2025 show mixed performance in terms of sales volume and revenue, with a general decline in sales amid low pig prices, while some leading companies' stock prices have risen significantly [1][6][8]. Group 1: Sales Performance - Giant Agricultural's sales report indicates a pig sales volume of 328,000 heads in May 2025, a year-on-year increase of 61.50%, but a slight decline compared to the previous month [3]. - Muyuans' report shows a sales volume of 6.406 million heads in May 2025, a year-on-year increase of 30.42%, with sales revenue of 12.258 billion yuan, up 26.93% year-on-year, but a decline from April's sales volume of 6.573 million heads [3]. - Wen's report reveals a sales volume of 3.1554 million heads in May 2025, a year-on-year increase of 32.64%, with sales revenue of 5.323 billion yuan, up 14.23% year-on-year, but a slight decline from the previous month [4]. - New Hope's sales report shows a sales volume of 1.3339 million heads in May 2025, a year-on-year decrease of 2.41%, with sales revenue of 1.972 billion yuan, down 6.01% year-on-year [4]. - Dabeinong reported a sales volume of 386,300 heads in May 2025, with a year-on-year increase of 17.99% and sales revenue of 623 million yuan, up 16.45% year-on-year [5]. Group 2: Price Trends - The average selling price of pigs has decreased both year-on-year and month-on-month across various companies, with Muyuans' average price at 14.52 yuan/kg, down 6.44% year-on-year [7]. - Wen's average selling price for pigs was 14.68 yuan/kg in May 2025, a decrease of 7.26% year-on-year [7]. - New Hope's average selling price was 14.59 yuan/kg, down 5.38% year-on-year [7]. - As of June 9, 2025, the market price for pigs was 14.31 yuan/kg, down from 14.60 yuan/kg at the end of May [7]. Group 3: Stock Performance - Despite the decline in pig prices, leading companies' stock prices have shown strength, with Muyuans' stock rising 4.11% on June 9, 2025, marking a cumulative increase of over 12% since May [8]. - Wen's stock also increased by 4.05% on June 9, 2025, with a cumulative rise of over 9% since May [8]. - The market is currently experiencing a supply-demand imbalance, leading to short-term price pressure, but there are indications of long-term support for prices [8].