Core Insights - The average price of external three yuan pigs in China increased to 11.45 yuan/kg as of December 1, 2025, reflecting a rise of 0.26 yuan/kg from the previous week [1] - The average price of piglets rose to 19.20 yuan/kg, up by 0.02 yuan/kg from last week [1] - The average price of white strip meat reached 15.32 yuan/kg, an increase of 0.17 yuan/kg compared to last week [1] Price Trends - The pig feed ratio is currently at 3.45:1, which is an increase of 0.08 from last week [1] - The southern region experienced a more significant price increase, contributing to the overall national average rise [1] - Market sentiment improved due to a combination of factors, including reduced supply from large-scale farms and seasonal temperature drops in the northern region, which are favorable for the cured meat market [1] Market Outlook - Short-term expectations indicate a gradual recovery in consumer demand as temperatures drop, although the supply from large-scale farms is beginning to increase [1] - Current temperature conditions are not sufficient to support a peak in cured meat demand, leading to limited upward movement in white strip meat prices [1] - The price difference between live pigs and white strip meat remains below 4 yuan/kg, indicating limited order growth from slaughter enterprises [1] - Market sentiment is mixed, with expectations of weak adjustments in pig prices in the coming days, influenced by the outflow rhythm from large-scale farms and the sales situation of white strip meat [1]

时至年末，生猪市场又将迎来节庆消费旺季。不过在当前市场价格持续低迷的背景下，今年传统春节前 夕旺季的特征或不明显。 12月1日，国内期货市场上生猪期货主力合约2601收于11495元/吨，依然处于年内低位。而现货市场 上，据搜猪网数据，上周市场加速下探，全国仅四川地区猪价受腌腊活动零星启动支撑出现0.2元/公斤 左右的上涨，其余大部地区受供需失衡矛盾加剧呈现大范围联动下跌。进入11月份，猪价呈现持续性单 边下跌态势，截至上周五全国均价较上月末12.39元/公斤的阶段性高点累计下跌近1.3元/公斤，与10月 中旬10.87元/公斤低点仅相差0.3元/公斤左右，基本已回吐10月下半月涨幅。 从卓创资讯统计的数据来看，中秋节前需求对于价格的提振作用明显弱于春节，但节后价格回落的幅度 往往更加显著。2025年中秋节前一周，白条猪肉价格仅仅上涨了3.12%，为近五年最低。而节后一周价 格下跌的幅度则达到了13.57%，处于近五年平均水平附近。 此外，今年四季度生猪市场腌腊需求的释放也不及预期。卓创资讯近期实地调研川渝黔地区腌腊情况发 现，家庭腌腊需求逐年下降，健康饮食观念正在重塑猪肉消费市场。目前市场反馈，消费者正减少 ...

数据显示，12月1日全国生猪现货价格报价11650.00元/吨，相较于期货主力价格（11495.00元/吨）升水 155.0元/吨。 （12月1日）全国生猪价格一览表 | 规格 | 报价 | 报价类型 | 交货地 | 交易商 | | --- | --- | --- | --- | --- | | 品种:外三元;体重:90-100kg; | 11.8元/公斤 | 市场价 | 山东省/济南市 | 山东济南市场 | | 品种:外三元;体重:90-100kg; | 11.6元/公斤 | 市场价 | 河北省/石家庄市 | 河北石家庄市场 | | 品种:外三元;体重:90-100kg; | 11.4元/公斤 | 市场价 | 湖南省/长沙市 | 湖南长沙市场 | | 品种:外三元;体重:90-100kg; | 11.6元/公斤 | 市场价 | 河南省/郑州市 | 河南郑州市场 | | 品种:外三元;体重:90-100kg; | 11.2元/公斤 | 市场价 | 黑龙江省/哈尔滨市 | 黑龙江哈尔滨市场 | | 品种:外三元;体重:90-100kg; | 11.6元/公斤 | 市场价 | 四川省/德阳市 | 四川德阳市场 | ...

四季度截至11月底，国内猪肉价格整体呈现宽幅震荡的态势。往后看，伴随居民饮食结构的调整和消费 观念的转变，猪肉消费季节性特征进一步弱化。在供应压力下，预计2026春节前猪肉价格上行空间预期 有限。 基于此，考虑到2026年春节较晚（2月17日），这意味着年前的消费战线被拉得很长。辩证来看，一方 面这种情况给了养殖端充足的出栏时间，不会出现集中踩踏出栏。同时，漫长的冬季时间有利于腌腊需 求的逐步释放。但另一方面，这也意味着需求集中爆发的力量被分散，较难出现短时间的需求爆发，带 动价格的快速上涨。 因此，预计冬至前后，伴随气温进一步下降，南方的灌香肠和腌腊需求将集中释放；叠加元旦备货，猪 肉价格或将在12月中旬迎来一波温和上涨，西南涨幅预期为0.5-0.7元／公斤，成为年前的价格高点区 域，但全国整体涨幅或有限。 而进入2026年1月份，随着各大院校放假、务工人员返乡，消费场景将从一二线城市向三四线城市转 移。由于2025年整体产能相对均衡，预计春节前的备货行情将以量增价稳为主。 （文章来源：新华财经） 据卓创资讯监测，截至11月27日，11月份全国猪肉均价为15.18元／公斤，环比上涨2.89%，同比下跌 28 ...

在祖国西南边陲 平均海拔超过4500米的西藏阿里 特殊的自然环境赋予了这里独特的资源禀赋 白绒山羊 是国家重点保护畜牧品种 可"酒香也怕巷深" 过去这里曾因自然环境恶劣 基础设施薄弱 长期处于"有货卖不出"的状态 而如今 白绒山羊产业也搭上了发展"快车道" 日土县90%以上的群众参与白绒山羊养殖 全县白绒山羊存栏数达14万余只 成为推动当地群众增收的重要途径 目前 琳琅满目的商品连接起中尼两国人民 无论是做了几十年生意 还是刚来这里不久 尼泊尔友人都能真切地感受到 中国人民的热情和友善 边贸不仅成为当地群众增收致富的重要渠道 更成为推动中国与南亚国家交流合作的坚实桥梁 从白绒山羊的培育 其中优质白绒山羊数量达9万余只 在距离日土县近500公里外的普兰县 喜马拉雅山脉在这留出了一个开口 热闹的边贸市场里 加快对外开放步伐 海拔4000米已不再是"人类活动的禁区" 昔日沉寂的资源被发掘 "高冷地区"正书写着我国高质量发展的新篇章 统筹：刘佩、洛登 作者：洛卓嘉措、黄智琪、庄云凯、索朗罗布、索朗扎西 新华社西藏分社 新华社音视频部联合制作 到边境贸易的繁荣 西藏正以昂扬的姿态 【纠错】 【责任编辑:薛涛】 ...

人民财讯12月1日电，温氏股份（300498）11月28日在券商策略会上表示，公司养鸡业生产成绩持续保 持高水平稳定。10月份，公司毛鸡出栏完全成本降至5.7元/斤。自8月以来，鸡价快速回升并延续较好 鸡价水平，符合传统消费旺季特性。根据当前鸡价水平，公司养鸡业务可以获得合理盈利。 ...

值得一提的是，目前中国西门塔尔牛产业实现数量质量双提升，总存栏数约920万头，核心育种体 系建设覆盖多省区国家种牛场及育种基地，通过人工授精与科学评定技术应用，日增重遗传进展均呈现 上升趋势。据统计，新疆维吾尔自治区参加全国奶牛性能测定的中国西门塔尔牛8514头泌乳牛305天产 奶量6022.9kg，乳脂率4.05%，乳蛋白率3.44%。未来发展需坚持乳肉兼用的总体方向，兼顾乳用和肉用 性能的协同提升，以实现综合效益最大化，构建一个高效循环的可持续发展体系，使中国乳肉兼用牛产 业在基础上更牢固，在市场上更具竞争力。 "发展乳肉兼用牛产业是关乎农业结构优化、保障农产品供给安全的重要举措。"全国畜牧总站畜禽 种业指导处副处长、高级畜牧师李姣说，当前奶业、肉牛产业面临一些波动，乳肉兼用牛产业凭借较高 的综合收益优势，呈现多维度突破态势：区域化发展产业布局已具雏形、育种基础持续稳固、创新体系 活力迸发、产业战略价值获得高度重视。 "乳肉兼用牛是奶业与肉牛业发展的关键结合点，是国家奶牛产业技术体系的重要工作领域。"国家 奶牛产业技术体系研究室主任、中国农业大学教授王雅春表示，未来选育应在保持乳品品质和肉用性能 的基础上 ...

Group 1 - The core viewpoint of the article is that the company, Muyuan Foods, focuses on a large-scale, integrated, self-breeding and self-raising production model, and does not engage in free-range pig farming [1] - The company emphasizes its commitment to improving production efficiency and pork quality, catering to consumer demand for safe, healthy, and delicious pork products [1] - Muyuan Foods has clarified that it does not offer free-range pigs that are fed little or no feed, which are characterized by longer growth cycles and firmer meat [1]

Core Viewpoint - The company Muyuan Foods has re-submitted its H-share listing application to the Hong Kong Stock Exchange after its initial application failed earlier this year, indicating a strong urgency to go public and enhance its global market credibility [1][3]. Company Strategy - Muyuan Foods aims to expand its international presence, having established a wholly-owned subsidiary in Vietnam and invested 3.2 billion yuan in a high-tech breeding project, which will eventually support a breeding stock of 64,000 sows and produce 1.6 million market pigs annually [5]. - The company has also signed a strategic cooperation agreement with Charoen Pokphand Group to explore global synergies in feed and slaughtering sectors [5]. Financial Performance - For the first three quarters of 2025, Muyuan Foods reported revenue exceeding 100 billion yuan, reaching 111.79 billion yuan, a year-on-year increase of 15.52%, and a net profit of 14.779 billion yuan, up 41.01% [5]. - However, the third quarter saw a decline in performance, with revenue of 35.327 billion yuan, down 11.48% year-on-year, and net profit of 4.249 billion yuan, a decrease of 56%, primarily due to low industry pork prices [6]. Industry Context - The national breeding sow inventory stands at 40.35 million, exceeding the normal holding capacity by 3.5%, with pork consumption expected to decrease by an average of 0.5% annually until 2033 [8]. - The capital market has shown valuation discrepancies, which contributed to the initial IPO failure, with profit forecasts for 2025 varying significantly among analysts [8]. Future Outlook - As the peak pork consumption season approaches in the fourth quarter, there is potential for a moderate recovery in pork prices [8]. - Muyuan Foods aims to leverage its cost advantages and industry chain layout to mitigate cyclical risks in the industry while seeking favorable valuations in the Hong Kong market [8].

Core Viewpoint - The sustainable development of the livestock industry, which is crucial for people's livelihoods, requires continuous financial support from banks to address the financing challenges faced by farming entities [1][3]. Group 1: Financial Innovation - Banks need to innovate credit products to address the core financing bottleneck in the livestock industry, breaking the traditional perception that "live animals are not assets" [1]. - The implementation of "Internet of Things + live asset collateral" models is essential, utilizing technologies like electronic ear tags and smart collars to transform live animals into financial assets that can be pledged and circulated [1]. - Optimizing the structure of loan terms and interest rates is necessary, with the design of medium- to long-term loans that align with breeding cycles and repayment schedules, such as no-principal renewal loans and revolving loans [1]. Group 2: Comprehensive Service Construction - Banks should abandon a "one-size-fits-all" credit model and provide customized financial solutions covering the entire livestock industry chain, including seedling cultivation, feed procurement, breeding management, slaughter processing, and production-sales connection [2]. - In the production phase, short-term working capital loans should support feed procurement and disease prevention, while fixed asset loans should assist in upgrading breeding facilities and introducing smart equipment [2]. - In the processing phase, increasing credit investment in slaughter processing enterprises is crucial to support cold chain logistics and deep processing projects, thereby extending the value of the industry chain [2]. Group 3: Risk Prevention and Control - Establishing a specialized risk assessment system is vital, integrating multi-dimensional information such as epidemic prevention records, production and sales data, credit status, and insurance coverage [2]. - Utilizing big data and satellite remote sensing technologies can enhance the precision of risk profiling, improving the scientific nature and efficiency of credit approval processes [2]. Group 4: Policy Guidance and Support - Banks should actively implement the agricultural and rural development department's work deployment and the requirements for high-quality development of the livestock industry during the "14th Five-Year Plan" period [3]. - There should be an increase in credit support for major production areas, large-scale breeding bases, and green low-carbon breeding projects to assist in cost reduction, quality improvement, and industry transformation [3]. - Strengthening the construction of financial service teams that understand both financial operations and livestock production is essential for enhancing service precision and targeting actual needs [3].