2026 年 03 月 03 日 农林牧渔 节后消费疲软叠加供应充足，短期内猪 价或震荡偏弱 生猪养殖：节前消费供给双增，短期内猪价或窄幅震荡 价格端：本周生猪均价 10.93 元/kg，周环比-7.06%，两周环比- 5.73%；仔猪价格 463 元/头，周环比-1.70%，两周环比-0.85%。根 据 iFinD 数据，本周猪肉批发价格 17.72 元/kg，周环比-2.11%。 供给端：本周生猪日均屠宰量为 13.76 万头，周环比变动-45.81%。 周观点：节后消费疲软叠加供应充足，短期内猪价或震荡偏弱。涌益 咨询数据显示，春节假期过后，市场供应量级恢复，年后屠企宰量增 量缓慢，拖累本周行情呈快速回落表现。当前猪价跌破新低后，情绪 端的支撑以及二育进场的托市，市场短时下跌确有受阻。从整体需求 面来看，年后消费回升速度缓慢，家庭多维持消化"冰箱库存"为主， 且目前生猪出栏均重较去年同期偏高，从消费端的匹配能力来看，年 后大猪需求疲软，预示当下市场供应压力依旧较强，预计短期行情持 续性上行动力略显不足，或震荡偏弱。 家禽养殖：屠宰产能节后回复，白羽肉鸡市场震荡 周观点：据我的钢铁网显示,本周种蛋价格呈现 ...

Investment Rating - The industry investment rating is "Leading the Market - A" and the rating is maintained [6] Core Views - The report highlights the impact of avian influenza on breeding restrictions, particularly focusing on white feather chickens [2] - The report indicates a short-term supply-demand game in pig farming, emphasizing the need to monitor weight feedback [22] - The report suggests investment opportunities in the aquaculture sector, noting stable prices in the aquatic products market [58] Summary by Sections 1. Weekly Market Review - The agricultural sector increased by 0.56% this week, ranking second among the Shenwan first-level industries [13] - The animal husbandry and veterinary sectors showed an upward trend, with notable stock performances [16] 2. Livestock Farming - **Pig Farming**: The average price of live pigs is 14.66 CNY/kg, with a week-on-week increase of 0.07% and a two-week increase of 0.31%. The average price of piglets is 647 CNY/head, with a week-on-week increase of 2.70% [22] - **Poultry Farming**: The average price of white feather meat chickens is 7.48 CNY/kg, with a week-on-week increase of 2.05%. The price of meat chicks is 2.98 CNY/chick, with a week-on-week increase of 2.41% [33] - **Aquaculture**: Prices for various aquatic products remain stable, with carp priced at 18.00 CNY/kg and shrimp at 300.00 CNY/kg [58] 3. Investment Recommendations - For pig farming, recommended companies include Wen's Foodstuffs, Muyuan Foods, and Shennong Group. For white feather chicken, focus on companies like Shengnong Development and Yisheng Biotechnology [4] - The report anticipates a tighter supply-demand balance in the first half of 2025, suggesting significant performance improvement potential in the post-cycle sector [4] 4. Industry Events - The report notes that over 35 million acres of grain have been sown nationwide, with a focus on improving yields through modern agricultural practices [69] - Central government support for pig farming is highlighted, particularly in terms of subsidies for breeding sows and fattening pigs [69]