随着中国经济回稳向好、港股科技股强势反弹，韩国个人投资者对中资股的热情持续升温。《韩国经济》等多家韩媒近日报道称，中国股票已跃升为继美股 之后韩国散户交易最活跃的海外资产，小米、比亚迪、宁德时代等高增长企业成为投资重点。韩国多家券商和研究机构也纷纷上调对中资股的配置建议，韩 国散户将投资重心从日美市场转向中资市场，掀起一波"买入热潮"。 随着欧美也达成贸易协议，金价中期偏震荡的态势未变。美元走弱+地缘不确定性依旧，黄金窄幅震荡，整体维持偏强格局、逢调增配贵金属个股策略。黄 金股估值再次回落至历史地位，恐高情绪下大部分估值再次回落至今年行情起点，而金价维系强势高位震荡，配置性价比突出。黄金股估值再次回落至历史 地位，恐高情绪下大部分估值再次回落至今年行情起点，而金价维系强势高位震荡，配置性价比突出。 刚果（金）出口禁令以来，1—5月由于港口库存及在途物料影响，我国进口量并未明显下降，市场保持了一定量的库存，再继续延长3个月出口禁令后，将 显著消化库存水平，6月进口量大幅下降，7月延续降势，冶炼企业库存有望在8—9月降至降低水平，叠加金九银十旺季备库预期，市场将走向低原料库存的 强现实，价格或得到显著支撑而继续上 ...

Core Viewpoint - The article provides an analysis of the current state of the pig farming industry, including supply, prices, and profitability, while also discussing the trends in related agricultural commodities such as corn, wheat, and soybean meal [3][4][5][6]. Group 1: Pig Farming Industry Analysis - The breeding sow inventory slightly increased to 40.42 million heads by the end of May 2025, with a month-on-month growth of 0.1% and a year-on-year growth of 1.2% [3]. - In May, the slaughter volume of pigs reached 32.16 million heads, reflecting a month-on-month increase of 4.5% and a year-on-year increase of 20.6%. The average weight of slaughtered pigs peaked at over 92 kg before starting to decline [3]. - The average price of live pigs in May dropped slightly to 14.92 yuan/kg, a decrease of 0.9% month-on-month and 5.4% year-on-year. The average price for piglets was 39.14 yuan/kg, with a month-on-month decrease of 0.1% but a year-on-year increase of 1.1% [3]. - Profitability in the industry continued to narrow, with average profits for large-scale farms dropping to 49 yuan per pig in May from 86 yuan in April, while smallholders saw profits decrease to 21 yuan per pig from 50 yuan [3]. Group 2: Recent Price Trends - As of July 4, the national average price for live pigs was 15.35 yuan/kg, reflecting a week-on-week increase of 4.28%. The average price for piglets was 31.33 yuan/kg, showing a week-on-week decrease of 0.85% [4]. - The average slaughter weight of pigs this week was 128.64 kg, with a week-on-week increase of 0.50 kg. The national frozen product inventory rate rose to 14.23%, an increase of 0.10 percentage points [4]. - The price increase was attributed to supply constraints due to heavy rainfall in southern regions and a seasonal reduction in supply, although the price growth is expected to slow as slaughterhouses adjust their output [4]. Group 3: Agricultural Commodity Prices - As of July 4, the average spot price for corn was 2436.27 yuan/ton, with a week-on-week increase of 0.22%. Soybean meal averaged 2916.29 yuan/ton, up 0.46%, and wheat averaged 2451.06 yuan/ton, up 0.19% [5]. - Domestic corn prices showed slight fluctuations, with prices in North China affected by news of imported corn auctions, while supply tightened in Northeast China due to ongoing outflows [5]. - The soybean meal market experienced adjustments, with increased supply from the U.S. and Brazil, while demand from end markets led to higher inventory levels at oil mills [6]. Group 4: Natural Rubber Price Trends - As of July 4, domestic natural rubber futures prices reached 14,075 yuan/ton, reflecting a week-on-week increase of 0.21%. Supply constraints in Southeast Asia due to ongoing rainy conditions have limited significant increases in supply [7]. - The inventory of rubber in Qingdao increased to 624,700 tons, with general trade inventory at 527,600 tons, up by 15,400 tons week-on-week [7].