农产品日报 | 2025-06-25 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13940元/吨，较前交易日变动-40.00元/吨，幅度-0.29%。现货方面，河南地区 外三元生猪价格14.70元/公斤，较前交易日变动-0.02元/公斤，现货基差 LH09+760，较前交易日变动+20；江苏地 区外三元生猪价格 14.95元/公斤，较前交易日变动+0.13元/公斤，现货基差LH09+1010，较前交易日变动+170；四 川地区外三元生猪价格13.75元/公斤，较前交易日变动+0.00元/公斤，现货基差LH09-190，较前交易日变动+40。 据农业农村部监测， 据农业农村部监测，6月24日"农产品批发价格200指数"为112.72，比昨天上升0.12个点，"菜 篮子"产品批发价格指数为112.74，比昨天上升0.14个点。全国农产品批发市场猪肉平均价格为20.29元/公斤，比昨 天上升1.0%；牛肉63.72元/公斤，比昨天下降0.5%；羊肉59.69元/公斤，比昨天上升0.2%；鸡蛋7.33元/公斤，比昨 天下降0.1%；白条鸡17.16元/公斤，比昨天上升1 ...

Summary of Financing Balances by Industry Core Insights - As of June 24, the total market financing balance reached 1,810.30 billion yuan, reflecting an increase of 5.13 billion yuan from the previous trading day, with 20 out of 31 industries showing an increase in financing balance [1][2] Industry Financing Increases - The power equipment industry saw the largest increase in financing balance, rising by 1.31 billion yuan to a total of 129.50 billion yuan, marking a 1.03% increase [1] - Other notable increases were observed in the electronics industry (1.15 billion yuan increase), computer industry (668 million yuan increase), and pharmaceutical and biological industry (664 million yuan increase) [1] Industry Financing Decreases - 11 industries experienced a decrease in financing balance, with the communication industry facing the largest drop of 4.27 billion yuan, bringing its total to 60.00 billion yuan, a decrease of 0.71% [1][2] - Other industries with significant decreases included national defense and military industry (1.95 billion yuan decrease) and construction decoration industry (1.87 billion yuan decrease) [2] Summary of Financing Balances by Industry | Industry | Latest Financing Balance (billion yuan) | Change from Previous Day (billion yuan) | Percentage Change (%) | |-------------------|-----------------------------------------|------------------------------------------|-----------------------| | Power Equipment | 1295.03 | 13.17 | 1.03 | | Electronics | 2081.19 | 11.53 | 0.56 | | Computer | 1364.58 | 6.68 | 0.49 | | Pharmaceutical | 1315.83 | 6.64 | 0.51 | | Mechanical Equipment | 939.85 | 5.78 | 0.62 | | Media | 411.07 | 3.97 | 0.98 | | Automotive | 944.02 | 3.52 | 0.37 | | Non-ferrous Metals | 770.20 | 3.43 | 0.45 | | Agriculture | 250.27 | 1.56 | 0.63 | | Light Industry | 127.62 | 0.68 | 0.53 | | Retail | 212.65 | 0.65 | 0.31 | | Construction Materials | 116.04 | 0.34 | 0.30 | | Environmental | 148.15 | 0.33 | 0.22 | | Basic Chemicals | 782.64 | 0.24 | 0.03 | | Beauty Care | 59.28 | 0.23 | 0.39 | | Coal | 154.34 | 0.23 | 0.15 | | Public Utilities | 421.94 | 0.23 | 0.05 | | Comprehensive | 32.43 | 0.06 | 0.19 | | Non-bank Financial | 1501.68 | 0.06 | 0.00 | | Steel | 144.41 | 0.04 | 0.03 | | Social Services | 96.00 | -0.07 | -0.07 | | Real Estate | 300.05 | -0.07 | -0.02 | | Transportation | 340.92 | -0.14 | -0.04 | | Textile and Apparel | 67.20 | -0.46 | -0.69 | | Banking | 532.07 | -0.75 | -0.14 | | Home Appliances | 259.87 | -0.78 | -0.30 | | Oil and Petrochemicals | 257.65 | -1.20 | -0.46 | | Food and Beverage | 520.28 | -1.70 | -0.32 | | Construction Decoration | 318.04 | -1.87 | -0.59 | | National Defense | 636.01 | -1.95 | -0.30 | | Communication | 600.02 | -4.27 | -0.71 | [1][2]

Group 1 - The core viewpoint of the articles highlights the importance of bond financing for technology innovation companies in Henan Province, aiming to enhance their funding channels and accelerate technological advancements [1][2] - The training session organized by the Henan Securities Regulatory Bureau and the Henan Listed Companies Association focused on the advantages and policies related to technology innovation bonds, providing insights into the bond market's role in supporting listed companies [1] - The issuance of the first technology innovation renewable corporate bond by Shennong Co., with a coupon rate of 2.59% and a subscription multiple of 3.69, demonstrates the growing interest and confidence in utilizing bond financing for innovation [2] Group 2 - Henan Province has cultivated a number of specialized and innovative enterprises that are crucial for the industrial transformation and upgrading of the region, although some still face challenges related to long financing cycles and high capital demands [2] - The technology innovation corporate bonds are seen as a vital tool for directing funds towards early-stage, small, long-term, and hard technology investments, injecting more vitality into the production capacity of Henan's listed companies [2] - The Henan Securities Regulatory Bureau plans to continue optimizing the regulatory environment and policy support to foster a healthy development ecosystem for corporate bond financing, thereby contributing to high-quality economic growth in the province [2]

期货日报网讯（记者 姚宜兵）2025年6月19日，海南证监局、海南省委金融办和海南省气象局联合指 导，大连商品交易所、郑州商品交易所主办，金元期货股份有限公司、中国上市公司协会、海南上市公 司协会、海南基金业协会支持，海南证券期货业协会承办的"期货赋能海南自贸港企业发展，助力实体 经济高质量前行" 会议在海口成功举办，本次会议汇集嘉宾及客户近三百人，共商期货市场服务自贸港 建设的创新路径。 政企联动，强化期货市场功能定位 会议聚焦海南自贸港封关运作背景下的产业机遇与挑战，海南证监局副局长董茹意指出，截至目前，国 内上市期货及期权品种达 146 个，覆盖农产品、能源、金融等领域，2024 年海南辖区期货公司客户数 同比增长 30%，成交额增长超 200%，期货市场在服务天然橡胶、原油等产业中成效显著。海南省气象 局副局长蔡亲波强调，海南已建成陆海空综合气象观测体系，需推动金融与气象数据融合，如大商所与 中央气象台联合发布的温度指数已应用于农业、能源等领域，为台风、高温等气象风险提供对冲工具。 交易所政策助力产业发展，创新服务自贸港特色产业 大连商品交易所相关负责人表示，大商所构建了22个期货品种+17个期权的产 ...

Core Viewpoint - The article emphasizes the importance of implementing comprehensive strategies for rural revitalization and agricultural development in the province, guided by Xi Jinping's thoughts and the resolutions from the 20th National Congress of the Communist Party of China [1] Group 1: Agricultural Production and Supply - Ensure stable production and supply of key agricultural products, with grain planting area maintained at over 53.3 million acres and grain output around 50 billion pounds [2] - Stabilize livestock production, maintaining a breeding sow population of over 1.3 million heads and supporting the development of meat and dairy industries [2] - Strengthen farmland protection and construction, ensuring dynamic balance in annual farmland area and promoting high-standard farmland construction of 4.76 million acres [3] Group 2: Agricultural Technology and Disaster Resilience - Enhance agricultural technology and equipment levels, promoting biotechnology and smart agriculture [4] - Improve disaster prevention and reduction capabilities, including strengthening meteorological services and flood control projects [4] Group 3: Food Security and Trade - Implement food production support policies, including minimum purchase prices for rice and subsidies for land fertility protection [5] - Establish a diversified food supply system, expanding modern facility agriculture and supporting deep-sea fisheries [6] Group 4: Poverty Alleviation and Employment - Ensure no large-scale return to poverty, with stable employment for over 156,000 individuals from impoverished backgrounds [8] - Maintain overall stability in support policies and funding for rural revitalization, with at least 60% of funds directed towards industrial development [8] Group 5: Rural Infrastructure and Public Services - Advance rural infrastructure construction, including building 300 rural water supply projects and improving rural road conditions [13] - Enhance basic public service levels in rural areas, ensuring 90% of counties have established integrated medical service systems [14] Group 6: Environmental Protection and Governance - Strengthen rural ecological environment construction, including adding 14,000 garbage collection facilities and improving rural sewage treatment [15] - Build strong rural grassroots party organizations to enhance governance effectiveness and address corruption [16] Group 7: Talent Development and Investment - Cultivate rural talent through various training programs, aiming to train over 10,000 practical talents [24] - Improve the multi-source investment mechanism for rural revitalization, encouraging financial institutions to increase funding for agricultural sectors [27]

身处"天地之中"，河南素有"九州腹地、十省通衢"之誉，是全国重要的综合交通枢纽和人流物流信息流 中心。近年来，河南交通运输发展发生根本性变化，"米+井+人"综合运输通道基本形成，交通强省建 设迈出坚实步伐。大力发展多式联运，河南构筑起海陆空开放新格局，拓展了对外发展新空间。 嵩山少林的晨钟暮鼓，开封夜市的烟火升腾，洛阳满城的汉服华裳……近年来，河南文旅频频"出圈"， 圈粉无数。2024年，全省接待游客量首次突破10亿人次、旅游综合收入首次突破1万亿元。今年端午节 假期，全省接待游客1511.6万人次、旅游收入67.9亿元，同比分别增长4.7%、5.3%，实现文旅市场量质 齐升。以文塑旅、以旅彰文，让文化更有活力，让旅游更有魅力，河南围绕"吃、住、行、游、购、 娱"融入新消费场景，不断丰富旅游业态、延伸产业链条，持续推进文化和旅游深度融合发展。 未来五年是河南发展厚积薄发、崛起倍增的关键阶段。奋力建设农业强省、制造强省、数智强省、交通 强省、文旅强省，要推动经济持续向好，实施提振消费专项行动；建设现代化产业体系，推动科技创新 和产业创新深度融合；推进乡村全面振兴，延伸现代农业产业链条；推进以人为本的新型城镇化， ...

为迎接这批来自四川的"老乡"，四川省农业农村厅交流合作处副处长、中国-FAO（联合国粮食及 农业组织）-乌干达（三期）南南合作项目四川农业专家组组长张小强正在乌干达忙着对接接机事 宜。 □四川日报全媒体记者 阚莹莹 乌干达本地山羊和简州大耳羊杂交，可以选育出适合当地生态条件的优质山羊品种，提高当地山 羊的繁殖能力 此次简州大耳羊种羊出口乌干达，不仅开创了四川自主培育山羊新品种出口的先河，也标志着四 川种畜禽产业在国际化道路上迈出了关键一步 6月24日凌晨2时07分，一架载有9只简州大耳羊种羊的飞机，从成都天府国际机场启程飞赴非洲乌 干达，助力当地畜牧业发展。这是四川自主培育山羊新品种首次出口，开创了全国先河。 来自四川的山羊远赴非洲，背后有怎样的故事？ 远渡重洋，为何是乌干达？ 2012年以来，中国在联合国粮食及农业组织南南合作框架下，向乌干达派遣农业专家和技术人 员，开展南南合作一期、二期和三期项目。按照"以省包国"原则，四川省派出近60名谷物、畜 牧、水产、园艺、农机等专业专家和技术人员，帮助当地农业发展。 "山羊养殖是乌干达最大的农业支柱产业，年养殖规模可达1700万头。"张小强说。但当地山羊品 种体型 ...

Core Viewpoint - Tianbang Food Co., Ltd. is undergoing a pre-restructuring process for its subsidiary Fuyang Agricultural Development Company, which aims to optimize its debt structure and improve operational sustainability and profitability [1][7]. Group 1: Arbitration and Legal Proceedings - The company has initiated arbitration against several entities, including Huzhou Wuxing Agricultural Development Co., Ltd., for construction contract disputes, claiming a total of approximately RMB 1.15 billion in payments and associated fees [1][2]. - The Hangzhou Arbitration Commission has issued five rulings that have become legally effective, and the company has applied for enforcement through the Hangzhou Intermediate People's Court [2][3]. - Fuyang Agricultural Development Company has applied for pre-restructuring due to its inability to repay debts, despite having potential for restructuring [4][5]. Group 2: Pre-restructuring Process - The court has decided to allow pre-restructuring activities to identify the restructuring value and feasibility of Fuyang Agricultural Development Company, which includes cooperation with a temporary manager [4][5]. - The temporary manager is tasked with investigating the company's financial situation, supervising compliance with restructuring guidelines, and facilitating negotiations with creditors and potential investors [5]. Group 3: Financial Impact and Future Outlook - The pre-restructuring process is expected to enhance the efficiency of debt resolution and improve the company's financial health, although it is not anticipated to significantly impact the current or future profits of Tianbang Food [7][8]. - The company has reported that it has no other undisclosed significant litigation or arbitration matters, aside from those already disclosed [6][7].

Investment Rating - The report maintains an "Outperform" rating for the agricultural products sector [1][5][4]. Core Views - The report is optimistic about the reversal of the beef cycle and recommends investments in leading companies in the livestock sector, particularly in beef and raw milk, which are expected to experience a positive resonance in 2025 [3][4]. - The pet industry is highlighted as a growth sector benefiting from demographic changes, while the feed sector, particularly Haida Group, is expected to gain from the recovery in aquaculture [3][4]. - The report notes that the pig industry shows insufficient expansion willingness, but the overall market conditions are expected to remain stable through 2025, with a focus on undervalued leading companies [3][4]. - Poultry production is expected to maintain low volatility, with white chicken consumption gradually increasing and yellow chicken likely to benefit from improved domestic demand [3][4]. Summary by Sections Livestock - **Pork**: The average price of live pigs is 14.16 CNY/kg, with a week-on-week increase of 1.22%. The price of 7kg piglets is approximately 446 CNY/head, down 4.98% week-on-week [1][13]. - **Beef**: The domestic beef market price is 59.35 CNY/kg, showing a slight decrease of 0.05% week-on-week but a significant increase of 27.63% year-on-year [1][15]. - **Poultry**: The price of broiler chicks is 1.23 CNY/bird, down 43% week-on-week, while the price of eggs in major production areas is 2.90 CNY/jin, up 9.85% week-on-week but down 35.27% year-on-year [1][14]. Feed and Raw Materials - **Soybean Meal**: The spot price is 3024 CNY/ton, with a week-on-week increase of 1%. The report indicates strong support for supply and demand in the medium to long term [2][3]. - **Corn**: The domestic corn spot price is 2415 CNY/ton, with a week-on-week increase of 0.37% and a year-on-year increase of 0.12% [2][3]. - **Sugar**: The price in Guangxi is 5980 CNY/ton, down 0.17% week-on-week, with attention on import rhythms and crude oil price fluctuations [2][3]. Investment Recommendations - Recommended stocks include: - **Beef**: Guangming Meat Industry - **Pets**: Guibao Pet, Zhongchong Co., and Ruipu Biological - **Feed**: Haida Group - **Pork**: Dekang Agriculture, Muyuan Foods, Huazhong Agriculture, and others - **Poultry**: Lihua Co., Yisheng Co., and Shengnong Development [3][4].

中新网香格里拉6月24日电 题：香格里拉：夏牧场上的短暂团聚 作者 王林 时文枝 6月，云南香格里拉最热闹的时候来到了。大大小小的牧场水草复苏，牛羊成群。而由古城、寺庙和雪 山、湖泊、草甸、森林为主背景的景区，则开始迎来众多游客。 23岁的央宗措姆将携3岁半的女儿格桑拉姆回到老家尼汝村，回到她日思夜想的夏牧场。 静卧于崇山峻岭之中的尼汝，曾是一个半农半牧的藏族村落。男人耕作，女人放牧，封闭而原始。 这些年，被誉为"世外桃源"的尼汝村发生了巨大的变化。因其所处普达措国家公园核心区，绝美的自然 风光与浓郁的藏式风情，吸引了越来越多的游客。 许多家庭纷纷"转行"从事旅游服务，开民宿、当导游。不少年轻人，甚至去到昆明、成都、广州和上海 打工。 央宗措姆(右)带着3岁半的女儿格桑拉姆(左)来到星沾，与在这里放牧的母亲团聚。 骆忠华 摄 即便一家人都生活在香格里拉市，央宗措姆的回乡之路依然遥远而漫长。从香格里拉市区乘车，要走三 四个小时才能到达尼汝村。而从尼汝村到"阿妈拉(母亲)"的夏牧场——星沾牧场，骑马、走路，最快也 要七八个小时。 "桃源"非世外。手机、步话机"联合"将央宗措姆母女要回家的消息传到了尼汝与星沾。 早 ...