Investment Rating - The report indicates a neutral investment rating for the agricultural sector, with expectations of limited price fluctuations in the near term [74]. Core Insights - The agricultural sector index increased by 3.62% week-on-week, but underperformed compared to the Shanghai Composite Index [13][14]. - The report highlights a focus on high-quality development in the pig farming industry, with a call for better market guidance and policy support [3][22]. - The poultry farming sector is experiencing price adjustments due to weak downstream demand, but there are expectations for recovery as consumer demand improves [4][35]. - The beef and dairy sectors are seeing price stability, with expectations for a new cycle in beef prices as supply constraints continue [5][39][42]. - The planting industry is stabilizing, with potential improvements if grain production decreases due to external uncertainties [6][45]. Summary by Sections 1. Market Review - The agricultural index closed at 2855.04 points, with a week-on-week increase of 3.62%, while the Shanghai Composite Index rose by 1.67% [13][14]. 2. Key Data Tracking 2.1 Pig Farming - The average weight of pigs at market was 128.48 kg, with a slight increase in slaughter rates due to high temperatures [3][22]. - The average price of pigs was 14.15 yuan/kg, showing a week-on-week decrease of 0.84% [21]. - Leading pig farming companies are expected to maintain profitability above 200 yuan per pig, with a focus on low-cost operations [3][23]. 2.2 Poultry Farming - The average price of white feather chickens was 6.70 yuan/kg, with a week-on-week increase of 4.69% [29]. - The overall poultry sector is stabilizing, with expectations for price recovery as consumer demand improves [4][35]. 2.3 Livestock - The price of live cattle was 26.49 yuan/kg, with a slight increase of 0.04% week-on-week [5][40]. - The dairy sector is expected to see a stabilization in prices as supply constraints continue [5][42]. 2.4 Planting Industry - Domestic corn prices were 2,332.86 yuan/ton, showing a slight increase of 0.12% [44]. - The planting sector is stabilizing, with potential improvements if grain production decreases [6][45]. 2.5 Feed & Aquaculture - Feed prices for fattening pigs remained stable at 3.35 yuan/kg [61]. - Aquaculture prices are showing positive trends, with certain fish prices increasing [61][66].

Investment Rating - The report does not explicitly state an investment rating for the agricultural sector, but it suggests a cautious outlook with potential for selective investment in quality companies [78]. Core Insights - The agricultural sector index underperformed compared to the Shanghai Composite Index, indicating a challenging market environment [12]. - The report highlights the stabilization of the pig farming industry, with leading companies expected to maintain profitability despite supply pressures [24]. - The poultry farming sector is experiencing price adjustments due to weak demand, but there is potential for recovery as consumer demand improves [37]. - The livestock sector is seeing a gradual increase in beef prices, while dairy prices are stabilizing, suggesting a potential turning point for profitability [44]. - The planting industry is facing supply pressures, but there is optimism for improvement if significant crop reductions occur [46]. - The feed and aquaculture sectors are showing price stability, with certain aquatic products experiencing upward trends [64]. Summary by Sections 1. Market Review - The agricultural index closed at 2755.32 points, down 0.14% week-on-week, underperforming compared to major indices [12][13]. 2. Key Data Tracking 2.1 Pig Farming - The average weight of pigs at market was 128.83 kg, with a slight decrease in price to 14.27 yuan/kg, down 3.65% week-on-week [22][23]. - Leading companies are expected to achieve profits exceeding 200 yuan per pig, with a potential for improved profitability in the medium term [24]. 2.2 Poultry Farming - The average price for white feather chickens was 6.40 yuan/kg, with a slight increase, but overall prices remain under pressure due to high supply [36][37]. - The poultry sector is expected to benefit from a recovery in consumer demand as macroeconomic conditions improve [37]. 2.3 Livestock - The average price for live cattle was 26.48 yuan/kg, showing a slight increase, while dairy prices are stabilizing [39][40]. - The sector is expected to see a new cycle of beef production as prices for calves and live cattle rise [44]. 2.4 Planting Industry - Domestic corn prices were reported at 2,330.00 yuan/ton, with fluctuations expected due to external uncertainties and potential crop reductions [45][46]. - The planting sector is anticipated to improve if significant reductions in crop yields occur [46]. 2.5 Feed & Aquaculture - Feed prices remained stable, with specific aquatic products like shrimp and abalone maintaining their prices [64][67]. - The aquaculture sector is showing signs of recovery, with certain products experiencing price increases [64].

Group 1: Inflation Trends - The Producer Price Index (PPI) for June 2025 recorded a year-on-year increase of 2.3%, marking the lowest level since September 2024, with market expectations at 2.5% [1] - The core PPI, excluding food, energy, and trade services, remained flat, with a 12-month cumulative increase of 2.5%, indicating low potential inflation stickiness [2] - The overall manageable producer price pressure suggests a likelihood of the Federal Reserve maintaining current interest rates or gradually lowering them [2] Group 2: Sector-Specific Insights - Energy prices saw a 0.6% increase in June, with gasoline prices rising by 1.8% and industrial electricity prices by 2.7%, indicating structural opportunities in the energy sector [3] - The demand for communication and related equipment prices increased by 0.8% in June, reflecting ongoing enterprise demand for 5G upgrades and data center construction [3] - Despite a 0.9% overall decline in transportation and warehousing services, freight forwarding prices rose by 8.0%, highlighting increased demand for logistics optimization amid global supply chain restructuring [3][4] Group 3: Consumer Services and Agricultural Products - Travel accommodation prices dropped by 4.1% in June, the largest monthly decline in six months, indicating short-term pressure on the tourism sector [5] - Egg prices plummeted by 21.8% in June, with a 12-month cumulative increase narrowing to 15.8%, primarily due to oversupply [9] - The price of unprocessed chicken decreased by 25.0%, suggesting potential short-term profitability pressures for poultry farming enterprises [9]

Investment Rating - The report suggests a positive outlook for the agricultural sector, particularly in pig farming and livestock, with a focus on high-quality, low-cost expansion companies [2][20][36]. Core Insights - The agricultural sector index has shown a weekly increase of 1.09%, but it has underperformed compared to the Shanghai Composite Index [2][13]. - The pig farming sector is experiencing a slight adjustment in prices, with expectations of improved mid-term profitability due to better management of supply pressures [20][22]. - The poultry farming sector is facing price pressures due to weak demand, but there are expectations for recovery as consumer demand improves [30][33]. - The livestock sector is seeing a stabilization in beef prices, with potential for a new cycle of growth as supply constraints continue [36][37]. - The planting industry is stabilizing, with potential improvements if there are significant reductions in grain production due to external uncertainties [42][43]. - The feed and aquaculture sectors are showing stable prices, with a positive outlook for aquatic product prices [60][61]. Summary by Sections 1. Market Review - The agricultural index closed at 2759.14 points, with a weekly increase of 1.09%, while the Shanghai Composite Index increased by 1.09% as well [2][13]. 2. Key Data Tracking 2.1 Pig Farming - The average price of pigs is 14.81 yuan/kg, with a weekly decrease of 3.52%. The average weight of pigs at market is 129.03 kg, showing a slight increase [20][21]. - Profits for self-breeding and self-raising are reported at 133.87 yuan/head, indicating a positive trend in profitability [20][22]. 2.2 Poultry Farming - The average price of white feather chickens is 6.24 yuan/kg, with a weekly decrease of 7.56%. The profitability for parent stock chickens is negative, indicating pressure on margins [30][33]. 2.3 Livestock - The price of live cattle is 26.44 yuan/kg, with a slight decrease of 0.71%. The dairy sector is stabilizing, with expectations for milk prices to recover in the second half of 2025 [36][37]. 2.4 Planting Industry - Domestic corn prices are 2351.43 yuan/ton, showing a slight decrease. The report highlights the importance of grain production stability amid external uncertainties [42][43]. 2.5 Feed & Aquaculture - Feed prices remain stable, with no significant changes reported. Aquaculture prices are showing a positive trend, particularly for shrimp and abalone [60][61].

Investment Rating - The report suggests a positive outlook for the agricultural sector, particularly in pig farming and livestock, indicating potential for good profitability in leading companies [3][20]. Core Insights - The agricultural sector index has shown a weekly increase of 2.55%, but it has underperformed compared to the Shanghai Composite Index [13][14]. - The report highlights that the pig farming industry is experiencing a rebound in prices, with the average price of live pigs at 15.35 CNY/kg, up 4.28% week-on-week, indicating a potential for improved profitability in the near term [3][20]. - The poultry sector is facing pressure due to weak demand, but there is an expectation for recovery as consumer demand improves [4][36]. - The livestock sector is seeing a stabilization in beef prices, with live cattle prices at 26.55 CNY/kg, reflecting a slight increase, while dairy prices are expected to stabilize in the second half of 2025 [5][42]. - The planting industry is showing signs of stabilization, with support for wheat prices due to minimum purchase price policies, and potential improvements if there are significant reductions in crop yields [6][47]. Summary by Sections 1. Market Review - The agricultural index closed at 2729.26 points, with a weekly increase of 2.55%, while the Shanghai Composite Index increased by 1.40% [13][14]. 2. Key Data Tracking 2.1 Pig Farming - The average price of live pigs is 15.35 CNY/kg, with a weekly increase of 4.28%. The average weight of pigs at slaughter is 128.64 kg, showing a slight increase [3][20][21]. - Leading pig farming companies are expected to achieve good profitability, with profits exceeding 200 CNY per pig [22]. 2.2 Poultry Farming - The average price of white feather chickens is 6.75 CNY/kg, reflecting a decrease of 3.71% week-on-week. The overall price pressure is attributed to weak demand [4][36]. 2.3 Livestock - Live cattle prices are at 26.55 CNY/kg, with a slight increase, while dairy prices are stabilizing around 3.04 CNY/kg [5][42]. 2.4 Planting Industry - Domestic corn prices are at 2367.14 CNY/ton, with a slight increase of 0.61% week-on-week. The planting sector is stabilizing, with potential improvements if crop yields decrease significantly [6][47]. 2.5 Feed & Aquaculture - Feed prices are stabilizing, with pig feed at 3.35 CNY/kg. Aquaculture prices are showing upward trends, particularly for certain fish species [62][63].

Investment Rating - The report indicates a neutral investment rating for the agricultural sector, with expectations of limited price movements in the near term [75]. Core Insights - The agricultural sector index has shown a slight increase of 0.80% week-on-week, but it has underperformed compared to the broader market indices [13][14]. - The report highlights that the pig farming sector is experiencing a rebound in prices, with the average price of commodity pigs at 14.72 yuan/kg, reflecting a week-on-week increase of 3.52% [3][22]. - The poultry farming sector is facing pressure due to weak demand, leading to price adjustments, particularly for yellow feathered chickens [4][37]. - The beef and dairy sectors are in a state of fluctuation, with live cattle prices at 26.52 yuan/kg, showing a slight decrease, while dairy prices are stabilizing [5][41]. - The planting industry is showing signs of stabilization, with wheat prices supported by minimum purchase price policies, and corn prices rebounding slightly [6][46]. Summary by Sections 1. Market Review - The agricultural index closed at 2661.46 points, with a week-on-week increase of 0.80%, lagging behind the Shanghai Composite Index [13][14]. 2. Key Data Tracking 2.1 Pig Farming - As of June 27, the average weight of pigs at slaughter is 128.14 kg, with a slight decrease from the previous week. The profitability for leading pig farming enterprises exceeds 200 yuan per pig [3][22][24]. 2.2 Poultry Farming - The average price for white feathered chickens is 7.01 yuan/kg, with a week-on-week decrease of 1.54%. The overall price pressure is attributed to weak downstream demand [4][33][37]. 2.3 Livestock - Live cattle prices are at 26.52 yuan/kg, with a slight decrease, while dairy prices are stabilizing around 3.04 yuan/kg [5][41]. 2.4 Planting Industry - Domestic corn prices are at 2352.86 yuan/ton, showing a week-on-week increase of 0.43%, while wheat prices are supported by government policies [6][46]. 2.5 Feed & Aquaculture - Feed prices remain stable, with pig feed at 3.36 yuan/kg. Aquaculture prices are showing an upward trend, particularly for fish species [60][61].

Investment Rating - The report indicates a positive investment outlook for the agriculture, forestry, animal husbandry, and fishery industry, with a weekly increase of 1.62% in the industry index, outperforming the Shanghai Composite Index [2][13][14]. Core Insights - The report highlights that the pig farming sector is undergoing weight reduction, with a current average weight of 128.82 kg per pig, and a slight increase in frozen product inventory rate. Despite a downward trend in pig prices, leading companies are expected to achieve good profitability in the first half of the year [3][19][20]. - The poultry farming sector is stabilizing at the bottom of the market, with a notable decrease in the breeding stock of parent chickens due to overseas avian influenza. However, there is potential for price recovery as consumer demand improves [4][31]. - The livestock sector is experiencing a steady state in beef prices, with a slight decrease in milk prices. The report anticipates a potential upward trend in milk prices in the second half of 2025 as supply-side adjustments take effect [5][35]. - The planting industry is showing signs of stabilization, with fluctuations in grain prices due to tariff policies and global weather disruptions. The report suggests that if there is a significant reduction in grain production, the planting industry may see improved conditions [6][40]. - The feed and aquaculture sectors are experiencing stable prices, with slight fluctuations in various fish prices. The report notes that feed prices have stabilized, which may benefit the overall profitability of the sectors [58][63]. Summary by Sections 1. Market Review - The agriculture, forestry, animal husbandry, and fishery index closed at 2725.63 points, with a weekly increase of 1.62%, outperforming major indices [2][13][14]. 2. Key Data Tracking 2.1 Pig Farming - The average pig price is 14.02 yuan/kg, with a weekly decrease of 0.21%. The report emphasizes the importance of supply-side adjustments in the industry [19][20]. 2.2 Poultry Farming - The average price for white feather chickens is 7.27 yuan/kg, with a slight decrease. The sector is stabilizing, with potential for price recovery as demand improves [29][31]. 2.3 Livestock - The average price for live cattle is 26.71 yuan/kg, with a slight decrease. The report anticipates a potential upward trend in milk prices as supply-side adjustments take effect [5][35]. 2.4 Planting Industry - Domestic corn prices are 2,334.29 yuan/ton, showing a weekly increase. The report suggests that significant reductions in grain production could improve the planting industry's conditions [39][40]. 2.5 Feed & Aquaculture - Feed prices have stabilized, with slight fluctuations in fish prices. The report notes that stable feed prices may benefit overall profitability [58][63].

Investment Rating - The report indicates a neutral investment rating for the agricultural sector, with expectations of limited price fluctuations in the near term [80]. Core Insights - The agricultural sector index outperformed the Shanghai Composite Index, with a weekly increase of 0.91% [13][14]. - The report highlights the ongoing adjustments in the pig farming industry, with a focus on the profitability of leading companies amidst fluctuating prices [22]. - The poultry sector is experiencing price stability despite seasonal demand fluctuations, with potential impacts from overseas avian influenza affecting supply [35]. - The dairy industry is seeing a recovery in milk prices due to reduced supply, while beef prices are expected to rise as the industry undergoes capacity adjustments [39]. - The planting sector is stabilizing, with potential improvements expected if there are significant reductions in grain production due to external uncertainties [47]. Summary by Sections 1. Market Review - The agricultural index closed at 2682.22 points, reflecting a weekly increase of 0.91%, outperforming the Shanghai Composite Index [13][14]. - The top-performing sectors included telecommunications and non-ferrous metals, while agriculture ranked 20th [14]. 2. Key Data Tracking 2.1 Pig Farming - The average weight of pigs sold was 129.17 kg, with a slight decrease in price to 14.05 CNY/kg, down 2.90% week-on-week [20][21]. - Leading companies are expected to maintain profitability above 200 CNY per pig in the first half of the year, despite anticipated price pressures in the second half [22]. 2.2 Poultry Farming - The average price for white feather chickens was 7.32 CNY/kg, showing a decrease of 0.68% week-on-week, while overall prices remain stable [32][35]. - The report anticipates a recovery in consumer demand as macroeconomic policies adjust, potentially boosting poultry product consumption [35]. 2.3 Dairy Industry - The price of raw milk has stabilized at 2.6 CNY/kg, with expectations for further recovery as supply decreases [39]. - The beef market is showing signs of a new cycle, with rising prices for calves and live cattle [39]. 2.4 Planting Industry - Grain prices are experiencing fluctuations due to tariff policies, with corn prices at 2294.29 CNY/ton and soybeans at 3925.26 CNY/ton [46]. - The planting sector is stabilizing, with potential improvements if significant reductions in grain production occur [47]. 2.5 Feed & Aquaculture - Feed prices have stabilized, with pig feed at 3.37 CNY/kg and poultry feed at 3.40 CNY/kg [65]. - Aquaculture prices remain steady, with notable increases in shrimp prices [65].

Investment Rating - The report indicates a neutral investment rating for the agricultural sector, with expectations of limited price fluctuations in the near term [76]. Core Insights - The agricultural sector index outperformed the Shanghai Composite Index, with a weekly increase of 0.91% [13][14]. - The report highlights the ongoing adjustments in the pig farming industry, with a focus on the profitability of leading companies amidst fluctuating prices [20][21]. - The poultry sector is experiencing price stabilization despite seasonal demand fluctuations, with potential impacts from avian influenza affecting supply [33][29]. - The dairy and beef sectors are showing signs of recovery, with rising prices for raw milk and beef, indicating a potential upward trend in profitability [37]. - The planting industry is stabilizing, with potential improvements expected if there are significant reductions in grain production due to external factors [44]. Summary by Sections 1. Market Review - The agricultural index closed at 2682.22 points, with a weekly increase of 0.91%, outperforming major indices [13][14]. - The top-performing sectors included telecommunications and non-ferrous metals, while agriculture ranked 20th [14]. 2. Key Data Tracking 2.1 Pig Farming - The average weight of pigs at market was 129.17 kg, with prices showing a slight decline [19][20]. - Leading companies are expected to maintain profitability above 200 CNY per pig in the first half of the year [21]. - The report suggests a cautious outlook for the second half of the year due to supply pressures [21]. 2.2 Poultry Farming - White feather chicken prices decreased to 7.32 CNY/kg, while overall prices remained stable [29][33]. - The report anticipates a recovery in consumer demand as macroeconomic policies adjust [33]. 2.3 Dairy and Beef Industry - Raw milk prices have stabilized at 2.6 CNY/kg, with expectations for further recovery in the second half of 2025 [37]. - The beef market is showing signs of a new cycle, with rising prices for calves and live cattle [37]. 2.4 Planting Industry - Grain prices are experiencing fluctuations due to tariff policies and external uncertainties [44]. - The report emphasizes the importance of increasing grain yields to counteract potential production declines [44]. 2.5 Feed and Aquaculture - Feed prices have stabilized, with slight variations in water product prices [64]. - The report notes that prices for various fish species remain steady, with some increases in shrimp prices [64].

Group 1 - Brazil is investigating new suspected cases of avian respiratory disease [1]