证券日报网讯2月11日，牧原股份（002714）在互动平台回答投资者提问时表示，公司自上市以来一直 重视投资者回报，将持续做好经营管理，提升盈利能力，更好地为股东创造回报。未来如有相关计划， 将严格按照法律法规的要求及时履行信息披露义务。 ...

Morning session notice 联系方式：0371-65617380 | 板块 | 品种 | 多（空） | 推荐理由 | | --- | --- | --- | --- | | | | | 【行情复盘】 | | | | | 昨日夜盘玉米期货震荡偏强，截至夜盘收盘主力合约2605合约涨幅0.57%，收于2293 | | | | | 元/吨。 | | | | | 【重要资讯】 | | | | | 1、假期临近，现货购销清淡，部分企业停收。昨日深加工企业收购价弱稳为主。中 | | | | | 国粮油商务网监测数据显示东北地区深加工企业收购价2169元/吨，较前一日跌1元/ | | | | | 吨；华北地区企业收购均价2304元/吨，较前一日持平。 | | | | | 2、昨日南北港口价格小幅上涨。中国粮油商务网监测数据显示锦州港15%水二等玉 | | | | | 米收购价2280-2300元/吨，较前一日涨10元/吨；蛇口港玉米成交价2420元/吨，较 | | | | | 前一日涨10元/吨。 | | | 玉米 | 区间 | 3、仓单方面，大商所数据显示截至2月10日玉米期货仓单数量较前一交易日增减0 ...

Core Viewpoint - Dongrui Co., Ltd. (001201) aims to achieve a pig output of 2 million heads by 2026, with a target of approximately 260,000 heads for Hong Kong, while reducing the total cost of commodity pigs to below 13 yuan/kg [1] Group 1: Company Plans - The company has a capital expenditure budget of approximately 160 million yuan for 2026, primarily for facility upgrades and capacity expansion [1] - The company plans to utilize a contract farming model to produce 250,000 heads of pigs [1] Group 2: Market Conditions - The central government's No. 1 document for 2026 mentions capacity regulation, subsidies, and insurance policies, which may provide operational stability for the company [1] - The company anticipates a net profit loss of between 120 million to 170 million yuan in 2025, mainly due to falling pig prices, which may pose challenges for performance improvement in 2026 [1]

农产品日报 | 2026-02-11 标猪供应整体充足，备货呈季节性特征 生猪观点 市场要闻与重要数据 期货方面，昨日收盘生猪 2605合约11470元/吨，较前交易日变动-95.00元/吨，幅度-0.82%。现货方面，河南地区 外三元生猪价格12.21元/公斤，较前交易日变动-0.26元/公斤，现货基差 LH05+740，较前交易日变动-165；江苏地 区外三元生猪价格 12.19元/公斤，较前交易日变动-0.24元/公斤，现货基差LH05+720，较前交易日变动-145；四川 地区外三元生猪价格10.79元/公斤，较前交易日变动-0.08元/公斤，现货基差LH05+-680，较前交易日变动+15。 据农业农村部监测，2月10日"农产品批发价格200指数"为129.50，比昨天下降0.01个点，"菜篮子"产品批发价格指 数为132.33，与昨天持平。全国农产品批发市场猪肉平均价格为18.26元/公斤，比昨天下降0.4%；牛肉66.13元/公 斤，比昨天上升0.1%；羊肉64.30元/公斤，比昨天下降0.3%；鸡蛋8.26元/公斤，比昨天下降1.5%；白条鸡17.14元/ 公斤，比昨天下降0.2%。 市场分析 ...

Industry Investment Rating - The investment rating for the agriculture, forestry, animal husbandry, and fishery industry is "Outperform the Market" [1] Core Insights - The report emphasizes the importance of modernizing agriculture while ensuring stable production as a shield for food security. The 2026 Central Document sets a target for grain production to remain around 1.4 trillion jin, highlighting the need for quality and efficiency improvements in agricultural production [4][6] - The focus on breeding has shifted from research to industrial application, indicating a faster pace in the commercialization of biobreeding technologies [4] - Comprehensive regulation of the livestock industry is emphasized, with a shift from monitoring pig production capacity to a more integrated approach across the entire supply chain [4][8] Summary by Relevant Sections Industry Overview - The closing index for the industry is 2936.45, with a 52-week high of 3158.8 and a low of 2448.98 [1] Key Policy Developments - The 2026 Central Document outlines six key areas for agricultural and rural modernization, including enhancing agricultural production capacity, promoting stable income for farmers, and innovating institutional mechanisms [3][4] Investment Recommendations - In the seed industry, the report suggests focusing on companies with strong breeding advantages such as Longping High-Tech, Denghai Seeds, and Shennong Seeds due to the anticipated restructuring and increased market concentration [6] - For the livestock sector, it recommends monitoring leading companies like Muyuan Foods and Wens Foodstuffs, as there is still room for production capacity adjustments [8] - The report highlights the potential benefits for smart agricultural machinery and related industries due to the emphasis on developing new agricultural production capabilities [8]

2026 年 2 月 11 日 | | | 单 位 | 价 | 格 | 同 比 | | | --- | --- | --- | --- | --- | --- | --- | | 价 格 | 河南现货 | 元/吨 | | 12080 | -250 | | | | 四川现货 | 元/吨 | | 10850 | -100 | | | | 广东现货 | 元/吨 | | 11660 | 0 | | | 期 货 | | 单 位 | 价 | 格 | 比 同 | | | | 生猪2603 | 元/吨 | | 10745 | 100 | | | | 生猪2605 | 元/吨 | | 11470 | -95 | | | | 生猪2607 | 元/吨 | | 12160 | 30 | | | | | 单 位 | 成交量 | 较前日 | 持仓量 | 较昨日 | | | 生猪2603 | 手 | 30850 | -2869 | 51980 | -8063 | | | 生猪2605 | 手 | 46228 | -24311 | 149549 | 1842 | | | 生猪2607 | 手 | 6147 | -1163 | 50025 ...

董事会认为，本集团调整前业绩由盈转亏，主要由于以下原因：期内生猪销售价格同比大幅下降，持续 于低位运行，养殖业务利润空间受到挤压，虽期内养殖成本有所改善，生鲜品牌业务有较大突破，科技 驱动成效有所显现，但整体盈利水平同比下降。 中粮家佳康(01610)跌超3%，截至发稿，跌3.11%，报1.55港元，成交额1230.36万港元。 消息面上，2月10日，中粮家佳康发布公告，预期本集团2025年度生物资产公允价值调整前的本公司拥 有人应占亏损约为人民币2.3亿元至人民币3.5亿元(未经审核)，去年同期调整前应占溢利约为人民币2.59 亿元。 ...

智通财经APP获悉，中粮家佳康(01610)跌超3%，截至发稿，跌3.11%，报1.55港元，成交额1230.36万港 元。 董事会认为，本集团调整前业绩由盈转亏，主要由于以下原因：期内生猪销售价格同比大幅下降，持续 于低位运行，养殖业务利润空间受到挤压，虽期内养殖成本有所改善，生鲜品牌业务有较大突破，科技 驱动成效有所显现，但整体盈利水平同比下降。 消息面上，2月10日，中粮家佳康发布公告，预期本集团2025年度生物资产公允价值调整前的本公司拥 有人应占亏损约为人民币2.3亿元至人民币3.5亿元(未经审核)，去年同期调整前应占溢利约为人民币2.59 亿元。 ...

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The spot market shows an increase in both supply and demand before the Spring Festival, with a relatively loose supply - demand situation, and the spot price is mainly in a weak - oscillating state. The futures market has sufficient production capacity, and the pig supply is expected to increase slightly. Fattened pigs from secondary fattening still need to be sold after the festival, which will continue to put pressure on the market. After the festival, it is the consumption off - season, so the 03/05 contracts are mainly in a weak - oscillating state [11] 3. Summary by Directory 3.1 Market Review and Operation Suggestions - **Futures Market**: On the 10th, the main 2605 contract of live pigs opened slightly lower and then oscillated downwards, closing with a negative line. The highest price was 11,575 yuan/ton, the lowest was 11,470 yuan/ton, and the closing price was 11,470 yuan/ton, a decrease of 0.48% compared to the previous day. The total open interest of the index decreased by 5,429 lots to 316,097 lots [10] - **Spot Market**: On the 10th, the average price of ternary pigs nationwide was 11.56 yuan/kg, a decrease of 0.18 yuan/kg compared to the previous day [10] - **Supply - side**: Currently, the utilization rate of secondary fattening pens is relatively high year - on - year, and there are still pigs to be sold before the festival. In February, the planned sales volume of sample breeding enterprises decreased by 17.73% month - on - month. Affected by the reduction in sales days during the holiday, the daily average increased by 21.44% month - on - month. As the Spring Festival approaches, the enthusiasm of the breeding side to sell pigs has increased, and the sales rhythm has accelerated [11] - **Demand - side**: Secondary fattening is mainly in a wait - and - see state. Around the traditional Chinese minor New Year, the terminal's Spring Festival stocking has increased significantly, which is also the last wave of peak demand before the festival. The consumption demand has increased, the orders of slaughtering enterprises have increased, and the operating rate and slaughter volume of slaughtering enterprises have increased significantly. On February 10th, the slaughter volume of sample slaughtering enterprises was 276,000 heads, an increase of 24,000 heads compared to the previous day, 84,000 heads week - on - week, and 85,000 heads month - on - month [11] 3.2 Industry News - As of February 5th, the expected cost of self - breeding and self - fattening was 12.08 yuan/kg, a decrease of 0.1 yuan/kg week - on - week. The cost of fattening pigs from purchased piglets was affected by both feed prices and piglet prices. The expected cost of fattening purchased piglets to 125 kg and then selling them was 12.65 yuan/kg, a decrease of 0.14 yuan/kg week - on - week [12][13] 3.3 Data Overview - As of February 5th, the average profit per head of self - breeding and self - fattening was 37 yuan/head, a decrease of 9 yuan/head week - on - week; the average profit per head of purchasing piglets for fattening was - 24.2 yuan/head, a decrease of 10.3 yuan/head week - on - week [16] - In the week of February 5th, the average market sales price of 6.5 - kg piglets was 366 yuan/head, a decrease of 1 yuan/head compared to the previous week [16] - In the week of February 5th, the average slaughter weight of live pigs nationwide was 127.40 kg, a decrease of 0.46 kg compared to the previous week (a week - on - week decrease of 0.36%), a decrease of 1.14 kg compared to the previous month (a month - on - month decrease of 0.89%), and an increase of 3.22 kg compared to the same period last year (a year - on - year increase of 2.59%) [16] - In the week of February 5th, the price difference between 175 - kg fat pigs and standard pigs was 0.93 yuan/jin, an increase of 0.1 yuan/jin week - on - week [16] - The cost of purchasing 110 - kg pigs and fattening them to 140 kg this week was 11.86 yuan/kg, a decrease of 0.48 yuan/kg compared to the previous week; the cost of purchasing 125 - kg pigs and fattening them to 150 kg was 12.38 yuan/kg, a decrease of 0.41 yuan/kg compared to the previous week [16]

Core Viewpoint - The company announced its main operational data for January 2026, specifically focusing on pig sales, indicating a total sale of 451,700 pigs, including 257,800 commercial pigs [2] Group 1: Sales Data - In January 2026, the company sold a total of 451,700 pigs [2] - Out of the total, 257,800 were commercial pigs [2] Group 2: Additional Notes - The data provided is unaudited and may differ from regular report disclosures, serving only as a reference for investors [2] - The company acknowledges potential monthly fluctuations in pig sales due to factors such as animal epidemics, market price volatility, and changes in breeding schedules [2] - The company highlights that market price changes represent a systemic risk for the entire pig production industry, which is an uncontrollable external risk for all producers [2]