Core Points - The 2025 provincial document emphasizes deepening rural reform and advancing comprehensive rural revitalization, signaling strong support for agriculture and rural development [1] - The document outlines key focus areas for the province's "three rural" work, including ensuring food security and preventing large-scale poverty [1][2] Group 1: Food Security and Agricultural Production - The province aims to maintain grain production above 1.3 trillion jin, with a total grain output of 1.344 trillion jin in 2024, marking eight consecutive years above this threshold [1][2] - Strategies include stabilizing grain acreage while enhancing yield, implementing a new round of grain production capacity enhancement, and improving agricultural disaster prevention capabilities [2][3] Group 2: Rural Economic Development - The document highlights the importance of cultivating county-level industries and improving rural living conditions, focusing on practical measures for industrial quality enhancement and environmental improvement [3][4] - It emphasizes the development of collective rural economies and the establishment of rural collective economic organizations to enhance income and service capabilities [4][5] Group 3: Governance and Community Engagement - The governance framework aims to strengthen grassroots party organization, address formalism, and promote rural harmony through a combination of self-governance, rule of law, and moral governance [5][6] - The document outlines the need for a new agricultural operation support policy that links agricultural enterprises with farmers to enhance income sharing [5][6] Group 4: Technological and Reform Initiatives - The document stresses the dual approach of technological innovation and reform to drive agricultural modernization, including the establishment of innovation platforms and support for seed industry development [6][7] - It calls for the extension of land contracts and the establishment of a rural credit system to support rural revitalization and protect farmers' rights [7]

Core Concept - The article emphasizes the importance of the "Big Agriculture" concept as a guiding worldview and methodology for modern agricultural development, highlighting its role in enhancing agricultural efficiency, rural vitality, and farmers' income [1][2]. Agricultural Development Concept Innovation - "Big Agriculture" contrasts with the traditional "Small Agriculture" concept, which is limited to small-scale farming and often disconnected from other industries. The historical small-scale farming model has led to inefficiencies and sustainability issues in agricultural development [1][2]. Adaptation to Modernization - The transition from "Small Agriculture" to "Big Agriculture" reflects the evolving understanding of agricultural development needs, with significant milestones in policy discussions since the 1990s [2]. Resource Perspective - "Big Agriculture" broadens the scope of agricultural resources beyond just arable land to include forests, grasslands, water bodies, and various biological resources, emphasizing a holistic approach to resource management [3]. Integrated Development - The concept promotes an integrated development model that encompasses the entire agricultural value chain, from production to processing, transportation, and consumption, thereby enhancing resilience and competitiveness [3][4]. Multifunctionality and Systematic Thinking - "Big Agriculture" recognizes the multifaceted roles of agriculture, including economic, social, ecological, and cultural functions, advocating for a systematic approach to agricultural development [4]. Green Development - The article stresses the need for sustainable practices in agriculture, promoting ecological, organic, and low-carbon farming methods to mitigate negative environmental impacts [4]. Diverse Pathways for Implementation - The implementation of "Big Agriculture" requires breaking traditional boundaries and emphasizing multi-functional, open, and integrated development, focusing on the synergy between different agricultural sectors [6]. Resource Utilization - Given the limited arable land in China, the article advocates for the comprehensive utilization of various agricultural resources, including non-traditional land types, to meet diverse agricultural demands [7]. Modern Agricultural Industry System - The development of a modern agricultural industry system is essential, with a focus on enhancing the entire agricultural value chain and promoting digital transformation [8]. Community Development - The article highlights the importance of integrating small farmers into the modern agricultural system, creating a community of shared interests and responsibilities [9]. Regional Adaptation - The development of modern agriculture should be tailored to regional characteristics, promoting large-scale agriculture in areas with sufficient land while supporting moderate-scale operations in regions with limited arable land [10][11]. Urban Agriculture - The article discusses the potential for developing modern urban agriculture in large cities, integrating agricultural functions with urban living and ecological considerations [11]. Specialty Agriculture - The promotion of specialty agriculture, leveraging unique regional resources, is seen as a promising avenue for modern agricultural development [12].

Core Viewpoint - The company is expanding its business into digital cultural creativity through the establishment of a new subsidiary, aiming to diversify its revenue streams and enhance its risk resilience [2] Group 1: Company Overview - Shenzhen Jiankai Zhino Agricultural Technology Co., Ltd. has established a wholly-owned subsidiary, Shenzhen Jiutian Zhishang Technology Media Co., Ltd., which focuses on digital cultural creative businesses, including the development, operation, and sales of trendy IP products [2] - The registered capital of Shenzhen Yingyun Zhidai Cultural Technology Co., Ltd. is 1 million yuan, with Jiutian Zhishang holding 51% and a professional team holding 49% [2] Group 2: Market Positioning - The company differentiates itself from other IP operators by focusing on the back-end operations of IP, targeting existing user bases for precise engagement and differentiated monetization strategies [2] - The cultural consumption market is evolving, with younger generations seeking personalized experiences, leading to a shift in focus from front-end IP incubation to back-end operational capabilities [2] Group 3: Future Plans - The company currently has over 50 IPs available for collaboration and plans to sign and incubate more than 10 new IPs in the coming year [2] - The new IP operation business will adopt a light asset model, allowing for quicker business cycles and potentially creating a significant profit stream as a second growth curve for the company [2]

今 日 昨 日 变 化 今 日 昨 日 变 化 河南（0） 14.59 14.72 -0.13 山 西 14.55 14.58 -0.03 湖北（0） 14.43 14.43 0.00 辽 宁 14.29 14.36 -0.07 安徽（300） 14.77 14.81 -0.04 吉 林 14.24 14.27 -0.03 湖南（100） 14.28 14.28 0.00 黑龙江 14.20 14.24 -0.04 四川（-200） 14.27 14.27 0.00 福 建 14.72 14.72 0 江西（100） 14.37 14.37 0.00 广 东 15.18 15.09 0.09 山东（0） 14.85 14.88 -0.03 广西(-200) 14.11 14.03 0.08 江苏（500） 14.87 14.87 0.00 云 南 14.37 14.27 0.1 河北（-100） 14.63 14.76 -0.13 贵 州 14.27 14.17 0.1 内蒙（-800） 14.29 14.32 -0.03 陕西(-300) 14.33 14.43 -0.1 浙江（1100） 14.93 14 ...

农产品日报 | 2025-05-21 供需博弈，猪价维持震荡 生猪观点 市场要闻与重要数据 期货方面，昨日收盘生猪 2509合约13690元/吨，较前交易日变动+5.00元/吨，幅度+0.04%。现货方面，河南地区 外三元生猪价格14.75元/公斤，较前交易日变动-0.11元/公斤，现货基差 LH09+1060，较前交易日变动-115；江苏 地区外三元生猪价格 14.90元/公斤，较前交易日变动+0.00元/公斤，现货基差LH09+1210，较前交易日变动-5；四 川地区外三元生猪价格14.26元/公斤，较前交易日变动+0.00元/公斤，现货基差LH09+570，较前交易日变动-5。 据农业农村部监测，5月20日"农产品批发价格200指数"为113.92，比昨天下降0.17个点，"菜篮子"产品批发价格指 数为114.09，比昨天下降0.19个点。全国农产品批发市场猪肉平均价格为20.76元/公斤，比昨天下降0.7%；牛肉63.06 元/公斤，与昨天持平；羊肉59.39元/公斤，比昨天上升0.6%；鸡蛋7.83元/公斤，比昨天下降1.4%；白条鸡17.29元/ 公斤，比昨天下降1.0%。 市场分析 综合来看，未 ...

Report Information - Report Title: Pig Daily Report [1] - Report Date: May 21, 2025 [2] Industry Investment Rating - Not provided in the content Core Viewpoints - The supply of live pigs is increasing while demand is weakening, leading to a generally loose supply - demand situation and a weakening trend in spot prices. Futures contracts are also expected to remain weak due to the off - season demand, loose supply - demand, and expected second - round fattening sales [7]. Summary by Directory 1. Market Review and Operation Suggestions - **Futures Market**: On the 20th, the main 2509 live pig futures contract opened slightly higher and fluctuated narrowly, closing down. The highest price was 13,730 yuan/ton, the lowest was 13,665 yuan/ton, and the closing price was 13,690 yuan/ton, up 0.18% from the previous day. The total open interest of the index decreased by 1,149 lots to 160,627 lots [6]. - **Spot Market**: On the 20th, the national average price of external ternary pigs was 14.50 yuan/kg, down 0.01 yuan/kg from the previous day [6]. - **Demand Side**: Currently, the fattening cost is low and the breeding profit is good, but the price difference between fat and standard pigs is inverted, and the pen utilization rate is relatively high. The enthusiasm for second - round fattening replenishment is average, with mostly sporadic and continuous entry. As the temperature rises, terminal demand weakens, slaughter enterprise orders decrease, and the slaughter rate and volume decline. On May 20, the slaughter volume of sample slaughter enterprises was 143,500 heads, a decrease of 11,000 heads from the previous day and 40,000 heads from a week ago [7]. - **Supply Side**: According to Yongyi sample data, the planned sales volume in May is 23.65 million heads, a 1.98% increase from the actual slaughter volume in April. Farmers are actively selling pigs, and with the continuous sales of previously second - round fattened pigs, the average slaughter weight has increased slightly [7]. 2. Industry News - From May 11 - 17, the average market sales price of 15kg piglets was 630 yuan/head, down 17 yuan/head from the previous week [10]. - As of May 15, the average profit per self - bred and self - raised pig was 170 yuan/head, a weekly decrease of 19 yuan/head; the average profit per pig fattened from purchased piglets was 118 yuan/head, a weekly decrease of 14 yuan/head [10][11] 3. Data Overview - From May 11 - 17, the national average slaughter weight was 129.71 kg, unchanged from the previous week, a monthly increase of 0.89% and an annual increase of 3.52% [21]. - From May 11 - 17, the price difference between 150 - kg fat pigs and standard pigs was 0.02 yuan/jin, a weekly decrease of 0.01 yuan/jin [21]. - As of May 15, the expected cost of self - bred and self - raised pigs was 13.09 yuan/kg, a weekly increase of 0.1 yuan/kg. The expected cost of fattening purchased piglets to 125 kg and then selling was 15.09 yuan/kg, a weekly decrease of 0.04 yuan/kg [21].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report The current sentiment in the pig market is weak, with a phase of inventory reduction. The north - south fat pig price spread is inverted, group sales of piglets have decreased, and there is evidence of inventory accumulation from the recent pressure of fat pig sales. The official piglet numbers confirm the inventory, leading to a weakening of expectations. There is a possibility of a phase of weight reduction due to trade circulation issues, and the positive spread structure may switch. The January contract is affected by liquidity, and the far - month spread currently deviates from the seasonal reasonable spread. Long - term, it is advisable to continuously layout the 11 - 1 reverse spread, paying attention to stop - profit and stop - loss. The short - term support level for the LH2509 contract is 13,000 yuan/ton, and the pressure level is 15,000 yuan/ton [4]. 3. Summary by Relevant Catalogs Pig Fundamental Data - **Spot Prices**: The Henan spot price is 14,750 yuan/ton with a year - on - year decrease of 50 yuan/ton; the Sichuan spot price is 14,250 yuan/ton with no year - on - year change; the Guangdong spot price is 15,140 yuan/ton with a year - on - year increase of 150 yuan/ton [2]. - **Futures Prices**: The prices of pig futures contracts 2507, 2509, and 2511 are 13,355 yuan/ton (up 55 yuan/ton year - on - year), 13,690 yuan/ton (up 5 yuan/ton year - on - year), and 13,360 yuan/ton (down 20 yuan/ton year - on - year) respectively [2]. - **Trading Volume and Open Interest**: For the pig 2507 contract, the trading volume is 5,426 lots (down 1,545 lots from the previous day), and the open interest is 27,030 lots (down 704 lots from the previous day); for the 2509 contract, the trading volume is 14,313 lots (down 7,885 lots from the previous day), and the open interest is 78,680 lots (down 663 lots from the previous day); for the 2511 contract, the trading volume is 3,176 lots (down 1,047 lots from the previous day), and the open interest is 32,179 lots (up 315 lots from the previous day) [2]. - **Spreads**: The basis of pig 2507, 2509, and 2511 contracts are 1,395 yuan/ton (down 105 yuan/ton year - on - year), 1,060 yuan/ton (down 55 yuan/ton year - on - year), and 1,390 yuan/ton (down 30 yuan/ton year - on - year) respectively. The 7 - 9 spread is - 335 yuan/ton (up 50 yuan/ton year - on - year), and the 9 - 11 spread is 330 yuan/ton (up 25 yuan/ton year - on - year) [2]. Trend Intensity The trend intensity is 0, with the range of values in the [-2, 2] interval for integers. The strength levels are classified as weak,偏弱, neutral, 偏强, and strong, where -2 represents the most bearish view and 2 represents the most bullish view [3].

企业代表温氏股份董事长温志芬致辞中表示，温氏集团自2003年首届畜博会起连续二十余年参展，见证 了展会从区域性平台发展为亚洲第一、全球第二的国际畜牧盛会。2025畜博会规模再创新高，展览面积 超18万平方米，吸引全球1500余家展商，覆盖种畜禽、饲料、兽药、畜牧机械等全产业链，专业观众数 量持续攀升。2025畜博会举办期间的高峰论坛、技术研讨会等活动，为行业提供了技术交流与合作契 机。温氏集团积极响应号召，持续加大科技投入，提升核心竞争力，致力于提供优质安全畜产品，同时 践行绿色可持续发展理念，助力畜牧业低碳转型。温氏将深化与行业伙伴合作，共同探索现代化产业体 系建设，并呼吁各界把握畜博会平台机遇，推动技术转化与资源整合。 第二十二 届（2025）中国畜牧业博览会暨2025中国国际畜牧业博览会开幕式（中国畜牧业协会供图） 据了解，2025畜博会特设智能装备、低碳技术、数字解决方案及优质畜产食品展区，集中展示全产业链 创新成果。同期举办"优化产能，提振消费"系列高端论坛，汇聚全球智慧共谋发展路径。 开幕式上，中国畜牧业协会会长蔡辉益在致辞中表示，中国畜牧业正以科技创新和开放合作为引擎，迈 向高质量发展新征程。近 ...

Core Insights - In 2024, Shaanxi province achieved a "four consecutive increases" in grain area, yield, and total production, with output surpassing 13.5 million tons [1][2] - The province has established 8 key industrial chains with a combined output value of 648 billion yuan, and has developed 281 provincial-level integration carriers, leading to the growth of 26 municipal-level chains exceeding 10 billion yuan and 131 county-level chains exceeding 1 billion yuan [1][2] - The number of specialty agricultural products ranks first in the country, with green agricultural products exceeding 1,000 for the first time, and an annual agricultural product inspection pass rate of 99.4% [1][3] Agricultural Development - Shaanxi has intensified efforts in "good fields, good seeds, good opportunities, good methods, and good systems" to reduce costs, increase production capacity, and enhance efficiency in grain production [2] - The province is leveraging smart agriculture technologies, such as water and fertilizer integration systems, to improve production efficiency and quality, benefiting both farmers and the agricultural sector [2] Rural Revitalization - The "Ten Thousand Project" is a key initiative for promoting comprehensive rural revitalization, with 503 provincial-level demonstration villages completed and accepted in 2024 [4] - Infrastructure and public service levels in rural areas, including roads, water supply, internet, education, medical care, and elderly care, have seen continuous improvement [4] - The rural household toilet coverage rate has reached 83.9%, and the comprehensive utilization rates of livestock manure and straw exceed the national average [4]

Core Viewpoint - The Chinese government aims to support the beef and dairy industries by addressing financial difficulties and stabilizing production capacity, as outlined in the 2025 Central Document No. 1 [1] Group 1: Industry Characteristics - The livestock industry is primarily composed of family-run operations, which have fragmented management and short supply chains, making it difficult to use livestock as collateral [1] - The industry exhibits significant cyclical characteristics, with cash flow heavily reliant on the sale of livestock products, and is affected by seasonal factors [3] - The industry faces high risks, including disease outbreaks and natural disasters, which can lead to substantial production interruptions [3] - The valuation of live livestock as collateral is challenging due to price volatility and the lack of standardized assessment systems [3] Group 2: Financial Innovations - Banks have introduced innovative financing products like "Beef Cattle Loans," which utilize real-time asset data and a comprehensive credit assessment model to facilitate loans for livestock farmers [2] - The Agricultural Bank of China has developed a "Smart Livestock Loan" that combines government, insurance, banks, and farmers to create a comprehensive financial service model [4] - Financial institutions are encouraged to provide differentiated financial products based on the production cycles of livestock, allowing for tailored loan terms and cash flow management tools [4][5] Group 3: Risk Management and Cost Control - The futures market plays a crucial role in risk management by allowing farmers to hedge against price fluctuations in feed costs, which constitute 50%-60% of beef cattle farming expenses [6] - Recent price increases in futures for corn and soybean meal highlight the importance of futures contracts in stabilizing costs for livestock producers [6] - The integration of technology, such as IoT and blockchain, is essential for improving asset management and risk assessment in the livestock sector [5][6]