（央视财经《经济信息联播》）去年，我国肉牛、奶牛市场行情低迷。为此，多部门提出一揽子纾困政策措施。随着各项纾困政 策落实，今年以来，全国活牛价格持续回升，肉牛养殖亏损逐步减轻。 据农业农村部监测，进入3月份以来，牛肉的市场价格逐步回暖。 吉林省是我国优势肉牛产区，近日，记者在长春、延吉等多个肉类交易市场采访时了解到，进入4月份以来，这些地方的牛肉价 格出现了明显的上涨。 商户们告诉记者，牛肉价格上涨，是因为受到活牛价格波动的影响。活牛的交易情况怎样？记者来到北方地区较大的一家活牛交 易市场，凌晨4点，这里早已是人声鼎沸、热闹非凡。 吉林长春市皓月肉牛交易市场工作人员 王巍泽：2025年进入第二季度之后，交易量和交易价格有了明显提升，交易价格已经上升 为每斤13.5元到14.5元。 采访中，记者了解到，为了应对肉牛价格的大起大落，吉林省去年拿出4775万元资金，在全省范围内实施优质肉牛冻精免费发放 全覆盖，让繁殖改良后的肉牛品质更好，养殖成本更低。 吉林农安县艳臣牧业小区农场主 李永忠：吃干草的牛和吃发酵草的没法比，假如都是500斤的牛育肥，吃干草的牛出肉1400斤， 吃发酵草的就能出1450斤到1480斤肉， ...

农产品日报 | 2025-05-13 中大猪出栏增加，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13870元/吨，较前交易日变动-55.00元/吨，幅度-0.39%。现货方面，河南地区 外三元生猪价格15.07元/公斤，较前交易日变动+0.00元/公斤，现货基差 LH09+1200，较前交易日变动+55；江苏 地区外三元生猪价格 15.21元/公斤，较前交易日变动-0.05元/公斤，现货基差LH09+1340，较前交易日变动+15；四 川地区外三元生猪价格14.61元/公斤，较前交易日变动+0.00元/公斤，现货基差LH09+740，较前交易日变动+55。 据农业农村部监测，5月12日"农产品批发价格200指数"为115.52，比上周五下降0.20个点，"菜篮子"产品批发价格 指数为115.91，比上周五上升0.10个点。全国农产品批发市场猪肉平均价格为20.85元/公斤，比上周五上升1.1%； 牛肉62.98元/公斤，比上周五下降0.5%；羊肉59.94元/公斤，比上周五上升1.0%；鸡蛋7.98元/公斤，比上周五下降 0.3%；白条鸡17.27元/公斤，比上周五下降0 ...

Industry Overview - In 2024, the growth of sow production capacity is expected to be slow, leading to limited growth in pig supply in 2025, which may result in better-than-expected pig prices [1] - The average national pig price in Q1 2025 is reported at 15.0 CNY/kg, showing a year-on-year increase of 3.9% and a quarter-on-quarter decrease of 9.6% [1] - The total pig output from listed companies in Q1 2025 reached 47.59 million heads, a year-on-year increase of 26% and accounting for 24% of the national output [1] Company Performance - Major listed pig companies turned profitable in Q1 2025, primarily due to favorable pig prices, declining feed costs, and improved production efficiency [2] - The total profit for 16 listed pig companies in Q1 2025 was 8.2 billion CNY, with operating cash flow reaching 13.1 billion CNY, leading to a reduction in the debt-to-asset ratio by 0.2 percentage points to 60% [2] - The construction projects and capital expenditures of major listed pig companies continued to decline, with year-on-year decreases of 41% and 25%, respectively, due to cautious expectations regarding future pig prices [2] Investment Recommendations - The company recommends focusing on high-quality pig companies with significant cost advantages and strong performance delivery capabilities, specifically highlighting Muyuan Foods and Wens Foodstuff Group [1] - Other companies to watch include Shennong Group and Dongrui Co., Ltd. [1]

仔猪价格涨跌互现 周均价刷新7个半月高点 金十期货5月13日讯，养殖端补栏情绪分化，部分地区补栏积极性依然较强，国内仔猪价格涨跌互现， 周均价进一步攀升，刷新7个半月高点。据对全国500个县集贸市场和采集点的监测，5月第1周全国仔猪 平均价格39.57元/公斤，比前一周上涨0.1%，刷新7个半月高点，同比上涨3.8%。新疆、浙江、上海、 天津、青海等14个省份仔猪价格上涨，贵州、湖北、山西、河南、重庆等13个省份仔猪价格下跌，内 蒙、湖南价格持平。华北地区价格较高，为41.85元/公斤；西南地区价格较低，为37.24元/公斤。 （农 业农村部） ...

墨西哥总统：预计美国将很快恢复活牛进口。 ...

Core Viewpoint - The company, Muyuan Foods Co., Ltd., has successfully issued its first phase of technology innovation bonds for the year 2025, raising a total of 300 million RMB to optimize its financing structure and reduce financing costs [1]. Group 1: Bond Issuance Details - The bond issuance was approved during the meetings of the board of directors and the first extraordinary general meeting of shareholders held on December 5 and December 21, 2023 [1]. - The total issuance scale was 300 million RMB, and the funds have been fully received as of the specified date in May 2025 [1]. - The bond, identified as SCP001 (Technology Innovation Bond), has a term of 270 days, with an interest rate of 1.95% and a face value price of 100 RMB per 100 RMB [1]. Group 2: Underwriters and Regulatory Compliance - The lead underwriter for this bond issuance is CITIC Bank Corporation Limited, with joint lead underwriters being Bank of China Limited and Zhejiang Commercial Bank [1]. - The company has ensured that the information disclosed is true, accurate, and complete, with no misleading statements or significant omissions [1].

2025 年 05 月 12 日 行业周报 看好/维持 农林牧渔 农林牧渔 农业周报 20250503-20250510：粮价继续上涨，畜禽等待拐点 ◼ 走势比较 ◼ 子行业评级 | 种植业 | 看好 | | --- | --- | | 畜牧业 | 看好 | | 林业 | 中性 | | 渔业 | 中性 | | 农 产 品 加 工 | 看好 | | Ⅱ | | ◼ 推荐公司及评级 二、核心观点 行业评级及策略：粮价近期持续上涨，种植产业链景气有望触底反 转。畜禽价格低迷，产能有望高位回落。关税反制事件凸显国内农 产品供应重要性，产业发展政策环境有望持续优化，继续看好板块 投资机会。 | 中宠股份 | 买入 | | --- | --- | | 牧原股份 | 买入 | | 苏垦农发 | 买入 | 相关研究报告 <<农业周报 20250427-20250502：子 行业 1 季报分化明显，养殖相关板块 业绩增长良好>>--2025-05-07 <<年报&一季报点评：粮价低迷致业 绩承压，自营农地规模扩大>>-- 2025-04-30 <<年报&一季报点评：自主品牌高速 增长，OEM 产能布局优势突出>>-- 2025 ...

大宗商品研究所 农产品研发报告 生猪日报 2025 年 5 月 12 日 研究员：陈界正 期货从业证号： F3045719 投资咨询证号： Z0015458 联系方式： chenjiezheng_qh@chinastock.c om.cn | | | | | 生猪价格日报 | | 2025/5/8 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 现货价格 | | | | | | | 今 日 | 昨 日 | 变 化 | | 今 日 | 昨 日 | 变 化 | | 河南（0） | 15.11 | 15.06 | 0.05 | 山 西 | 14.89 | 14.85 | 0.04 | | 湖北（0） | 14.61 | 14.53 | 0.08 | 辽 宁 | 14.58 | 14.54 | 0.04 | | 安徽（300） | 15.19 | 15.15 | 0.04 | 吉 林 | 14.51 | 14.42 | 0.09 | | 湖南（100） | 14.53 | 14.53 | 0.00 | 黑龙江 | 14.41 | 14.37 ...

| 证券代码：603477 | | 证券简称：巨星农牧 公告编号：2025-044 | | | --- | --- | --- | --- | | 债券代码：113648 | | 债券简称：巨星转债 | | | | | 乐山巨星农牧股份有限公司 | | | | | 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 | | | | | 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | | | 重要内容提示： | | | | | ? | | 被担保人名称及是否为上市公司关联人：被担保人包括乐山巨星农牧 | | | | | 股份有限公司（以下简称"公司"或"上市公司"）合并报表范围内的子公 | | | 司（19 | | 家）、部分优质养殖户、客户、合作伙伴（376 户），不存在关联担 | | | 保。 | | | | | ? | | 本次担保金额及已实际为其提供的担保余额：公司 2025 年 4 月（以 | | | | | 下简称"本期间"）新增担保金额合计 17,342.75 万元，其中，对子公司新 | | | 增的担保金额为 | | 16,642.75 万元，对优质养殖户、客 ...

Group 1 - In 2024, the beef and dairy cattle market in China is experiencing a downturn, prompting multiple departments to propose a package of relief policies [1] - As these relief policies are implemented, live cattle prices have been steadily recovering since 2025, reducing losses in beef cattle farming, with some regions turning profitable in the fattening stage [1] - The Agricultural and Rural Affairs Department reports a gradual warming of beef market prices since March [1] Group 2 - In Jilin Province, a key beef cattle production area, beef prices have shown significant increases since April [5] - To address price volatility, Jilin Province has introduced various policy measures to enhance beef cattle farming quality and stability, including a fund of 47.75 million yuan for free distribution of quality beef cattle frozen semen [6] - The province is also promoting a shift in cattle feed from "dry straw" to "fermented silage," improving feed quality and reducing costs [8] Group 3 - The dairy market is facing challenges due to seasonal consumption declines, with fresh milk prices remaining low [9] - In Ningxia, a significant dairy cattle region, 288 dairy farmers are experiencing varying degrees of losses due to market conditions [11] - The government is providing subsidies for feed, frozen semen, and interest to help dairy farms recover, with financial institutions offering loans totaling over 19 billion yuan [13] Group 4 - Ningxia's government has allocated over 100 million yuan to support dairy farmers and stabilize fresh milk prices, boosting farmer confidence [14] - Some dairy farmers are processing surplus fresh milk into various dairy products to enhance sales through innovative channels [17][19] - Efforts to optimize the dairy cattle structure in Ningxia have led to stable fresh milk production and increased prices for bulk milk [21] Group 5 - To help the beef and dairy industries recover from downturns, Jilin Province is focusing on building industrial clusters to lower farming costs and mitigate market risks [22] - The establishment of a beef slaughter and processing industrial park in Jilin is reducing risks for local farmers and promoting regional beef industry development [26] - National efforts are underway to develop a modern forage industry to ensure quality feed supply, with various regions, including Shandong and Ningxia, issuing development plans for forage production [28]