Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - The spot price of live pigs showed a pattern of being strong first and then weak this week, with the futures price trending strongly. Looking ahead to next week, the spot price is expected to oscillate weakly, and the LH2603 contract price will continue to face pressure [2][3][4]. 3. Summary by Related Catalogs This Week's Market Review (12.29 - 1.4) - **Spot Market**: The price of 20KG piglets in Henan was 21.75 yuan/kg (21.1 yuan/kg last week), the price of live pigs in Henan was 12.45 yuan/kg (12.08 yuan/kg last week), and the price of 50KG binary sows nationwide was 1,546 yuan/head (unchanged from last week). The supply was tight at the end of the month due to reduced volume from large - scale farms and strong reluctance to sell among small farmers. Demand decreased after the New Year's Day holiday. The average slaughter weight nationwide was 124.54KG, a 0.2% month - on - month decrease [2]. - **Futures Market**: The LH2603 contract of live pig futures had a high of 11,880 yuan/ton, a low of 11,670 yuan/ton, and a closing price of 11,795 yuan/ton (11,645 yuan/ton last week). The basis of the LH2603 contract was 655 yuan/ton (435 yuan/ton last week) [2]. Next Week's Market Outlook (1.5 - 1.11) - **Spot Market**: The spot price of live pigs will oscillate weakly. The supply pressure is large as the overall slaughter progress in December was fast, and the supply increase was amplified before the winter solstice. After the winter solstice, the shortage of pigs in some social groups led to reluctance to sell, and the entry of secondary fattening increased the price. However, after the New Year's Day, the downstream negative feedback was obvious, and the price accelerated to decline. From the supply perspective, the supply will enter a continuous incremental stage until March 2026. From the demand perspective, the low price in October stimulated demand, and the entry of secondary fattening was continuous, but it also over - drafted the speculative demand for re - stocking. After December, the demand for curing and normal consumption increased, but after New Year's Day, it entered a demand vacuum period, and the price will continue to be under pressure [3]. - **Futures Market**: The price of the LH2603 contract closed at 11,795 yuan/ton on December 31. During the holiday, the supply from large - scale farms decreased, but the downstream negative feedback was strong, and the price of the spot market dropped rapidly. Pay attention to the change in social sentiment. In January, it may enter a resonance stage between large - scale farms and the social side. The current weight has just started to decline, and the change in feed data is small, indicating the start of active de - stocking. The 3 - month contract will continue to be under pressure. The short - term support level of the LH2603 contract is 11,000 yuan/ton, and the pressure level is 12,200 yuan/ton [4]. Other Data - **Basis and Monthly Spread**: This week's basis was 655 yuan/ton; the LH2603 - LH2605 monthly spread was - 370 yuan/ton [9]. - **Supply Data**: This week's average weight was 124.54KG (124.79KG last week). In October, the pork production was 5.605 billion tons, a 5.5% month - on - month increase; the pork import was 7.14 million tons, an 11.14% month - on - month decrease [12].

Core Viewpoint - *ST Tianshan (300313.SZ) reported significant year-on-year increases in both sales volume and revenue for live livestock in December 2025, indicating strong growth despite a quarter-on-quarter decline [1] Group 1: Sales Performance - The company sold 1,894 heads of live livestock in December 2025, representing a year-on-year increase of 346.70% [1] - The sales revenue reached 24.5997 million yuan, showing a year-on-year increase of 573.12% [1] - However, there was a quarter-on-quarter decline in sales volume and revenue, with decreases of 34.51% and 30.38% respectively [1]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints of the Report - This week (12.29 - 1.4), the spot market for live pigs showed a pattern of strengthening first and then weakening. The prices of 20KG piglets in Henan and live pigs in Henan increased slightly, while the price of 50KG binary sows remained unchanged. The supply was tight due to significant reduction in group sales at the end of the month and strong reluctance of individual farmers to sell, and the demand decreased after the holiday. The average slaughter weight decreased slightly. In the futures market, the price of live pig futures trended strongly. The LH2603 contract had a higher closing price compared to the previous week, and the basis widened [2]. - Next week (1.5 - 1.11), the spot price of live pigs is expected to oscillate weakly. The supply is expected to increase continuously until March 2026 according to piglet data, and the supply pressure has not been effectively relieved. The demand has over - anticipated the market but has also advanced the speculative demand for restocking. After the New Year's Day, the demand enters a vacuum period, and enterprises have a strong willingness to slaughter and reduce weight in January, putting pressure on the spot price. For the LH2603 futures contract, it is also under pressure, with a short - term support level at 11000 yuan/ton and a pressure level at 12200 yuan/ton [3][4]. 3. Summary by Relevant Catalogs 3.1 Market Review (12.29 - 1.4) - **Spot Market**: The price of 20KG piglets in Henan rose from 21.1 yuan/kg last week to 21.75 yuan/kg, the price of live pigs in Henan rose from 12.08 yuan/kg last week to 12.45 yuan/kg, and the price of 50KG binary sows remained at 1546 yuan/head. The average slaughter weight was 124.54KG, a 0.2% month - on - month decrease [2]. - **Futures Market**: The LH2603 contract had a highest price of 11880 yuan/ton, a lowest price of 11670 yuan/ton, and a closing price of 11795 yuan/ton (compared to 11645 yuan/ton last week). The basis of the LH2603 contract was 655 yuan/ton (compared to 435 yuan/ton last week) [2]. 3.2 Market Outlook (1.5 - 1.11) - **Spot Market**: The supply is increasing, and the demand is in a vacuum period after the holiday. Enterprises have a strong willingness to slaughter and reduce weight in January, so the spot price will be under pressure [3]. - **Futures Market**: The LH2603 contract is under pressure. Attention should be paid to changes in social sentiment. The short - term support level is 11000 yuan/ton, and the pressure level is 12200 yuan/ton [4]. 3.3 Other Data - **Basis and Spread**: The basis this week was 655 yuan/ton, and the LH2603 - LH2605 spread was - 370 yuan/ton [9]. - **Supply**: The average weight this week was 124.54KG (compared to 124.79KG last week). In October, the pork production was 5.605 billion tons, a 5.5% month - on - month increase, and the pork import was 7.14 million tons, an 11.14% month - on - month decrease [12].

Group 1 - The core initiative of the poverty alleviation collaboration between Zhejiang and Guangyuan focuses on delivering industrial support, job opportunities, and healthcare to impoverished communities [1][2] - The introduction of over 300 Zhejiang Hu sheep, known for their high economic value due to better meat quality and higher reproductive rates, aims to enhance local agricultural productivity [2] - The Hu sheep breeding project involves a total investment of 11.5 million yuan, with a new breeding base capable of housing 5,000 sheep, indicating significant potential for local economic development [2] Group 2 - The "Health Poverty Alleviation into the Countryside" initiative has been launched, providing free medical services and medications to rural areas, addressing healthcare accessibility issues [3][4] - A total of 120,000 yuan worth of medical supplies has been procured for the initiative, which has already served over 6,000 individuals through 30 free medical clinics [4] - The collaboration between healthcare departments from different regions has been ongoing since 2018, demonstrating a sustained commitment to improving health outcomes in impoverished areas [4]

下一步，西南区将建立健全防控工作机制，统筹做好动物疫病防控、生猪调运和产销衔接等工作， 引导各地优化产业布局，推动养殖、运输和屠宰行业提档升级，促进上下游、产供销有效衔接，保障生 猪等重要畜产品安全有效供给。（记者 史晓露） 近日，农业农村部印发《非洲猪瘟等重大动物疫病分区防控工作方案(试行)》，决定自2021年5月1 日起在全国范围开展非洲猪瘟等重大动物疫病分区防控工作。其中西南区包括四川、重庆、湖北、贵 州、云南、西藏等6省(区、市)。 5月8日，记者从农业农村厅畜牧兽医局获悉，近日，我省在成都市组织召开第一次西南区非洲猪瘟 等重大动物疫病分区防控工作协调会，四川、重庆、湖北、贵州、云南、西藏等6省（区、市）将强化 区域联防联控，加强生猪调运和屠宰环节监管，提升动物疫病防控能力。 ...

谷、牛、粪、田，循环不息； 宴、游、业、链，故事长存。 监制：董洪亮 策划：王锦涛 记者：曾亦辰 拍摄：薛婷婷 高亮 剪辑：薛婷婷 曾亦辰 鸣谢：中共崇信县委宣传部 崇信县融媒体中心 出品：人民日报社甘肃分社 炊烟散入黄土的记忆， 牛群唤醒窑洞的新生。 一孔窑洞的自白，诠释着乡村振兴最质朴而有力的答案。 在甘肃崇信，古老窑洞完成了从温暖家园到产业核心的功能变迁。 ...

Group 1 - The core viewpoint of the articles emphasizes the development and modernization of the yak industry in Ganzi Prefecture, aiming to enhance economic growth through the establishment of a national-level yak industry cluster with an annual output value of 5 billion yuan within three years [2][9][10] - Ganzi Prefecture has rich grassland resources, with 142 million acres of natural grassland, and a yak population of 1.9131 million as of the end of 2020, contributing to a total industry output value of 4.4 billion yuan [2] - The yak industry is transitioning from traditional farming methods to modern practices, with initiatives such as the establishment of yak breeding bases and the introduction of improved yak breeds like the JiuLong yak, which is favored for its high meat yield [3][4][5] Group 2 - The implementation of a series of measures in Seda County, including financial incentives for top-performing towns and the establishment of a yak industry park, aims to increase livestock output significantly, with a target of 27,000 heads by year-end, exceeding the annual goal by 21% [6][7] - The establishment of the Kangbei yak dairy processing park in Dege County has enabled local farmers to diversify their income through milk sales, with plans to process 21 tons of milk daily and achieve an annual output value of over 40 million yuan [9] - Ganzi Prefecture is focusing on a comprehensive development strategy for the yak industry, integrating various sectors to enhance the overall value chain, with a goal of processing over 10,000 tons of yak meat and 5,000 tons of milk annually within the industry cluster [9][10]

[Table_Page] 跟踪分析|农林牧渔 证券研究报告 [Table_Title] 农林牧渔行业 牛肉进口实施配额制及配额外关税，看好肉牛价格周期上行 [Table_Summary] 核心观点： | [Table_Grade] 行业评级 | 买入 | | --- | --- | | 前次评级 | 买入 | | 报告日期 | 2026-01-04 | [Table_PicQuote] 相对市场表现 -4% 4% 11% 19% 26% 34% 01/25 03/25 05/25 08/25 10/25 12/25 农林牧渔 沪深300 | [分析师： Table_Author]钱浩 | SAC 执证号：S0260517080014 | | | --- | --- | --- | | SFC CE No. BND274 | 021-38003634 | | | shqianhao@gf.com.cn | 分析师： | 李雅琦 | | SAC 执证号：S0260524080006 | 021-68827265 | | | liyaqi@gf.com.cn | 请注意，李雅琦并非香港证券及期货事务监察委员会的注 ...

本报讯 （记者 王臻） 1月3日，记者从省农业农村厅获悉，青海省种羊繁育推广服务中心依托海北高原 生态农牧业产教联合体平台，联合青海大学、青海农牧科技职业学院、中科院西北高原生物研究所等院 校及科研单位深化产学研协同合作，通过技术赋能、实践育人、成果转化等举措，进一步筑牢高寒牧区 畜牧业人才根基，推动种羊繁育产业提质增效，为青海生态农牧业高质量发展注入强劲动力。 与此同时，为合作院校及科研机构搭建常态化实习实践载体，分批次接收院校学生、农牧民及基层专业 技术人员深入牧区生产一线，围绕绵羊人工授精、生长性能鉴定、疫病临床诊疗、草地质量监测等核心 技能开展实操教学。2025年以来，累计培训实习学生、农牧民、专业技术人员310余人次，让院校学生 积累了宝贵一线经验，让基层从业者掌握实用技术，实现人才培养与产业需求精准对接。 省种羊繁育推广服务中心锚定产学研融合发展方向，充分借助合作院校科研与教学优势，选派畜牧养 殖、疫病防治、草原生态等领域骨干教师及科研团队，深度参与技术培训授课与生产指导工作，推动藏 羊两年三胎模式成熟落地，联合实践运用母羊胚胎移植技术，有效缩短育种周期、提升养殖经济效益； 同步完成933公顷草场 ...

本土人才培养也同步推进。昭苏与多家科研院所、高校合作，采取博士生导师、硕士生导师与本地 技术员、科技特派员"两师+两员"结对帮带模式，培养畜牧技术人员370余名。 （来源：光明日报） 转自：光明日报 一场大雪过后，天山北麓银装素裹。在新疆伊犁州昭苏县的马场里，马儿或在避风棚圈中悠闲甩 尾，或低头嚼食着提前备好的草料，为寒冷冬日平添了生机。 "瞧，这马个个膘肥体壮！"看着自家的伊犁马，喀夏加尔镇养马大户阿依肯·努尔波拉提难掩喜 悦，"早年只能养三五匹，赚不了多少钱。现在可不一样了——县里请专家教技术、办培训，我们不仅 能养更多马，还能靠着卖马奶制品、租马匹增收，一年算下来，能多挣十来万元呢！" 昭苏，素有"中国天马之乡"的美誉。近年来，当地聚焦马产业发展，做足"马文章"，以人才为引 擎、产才融合为动能，推动富民强县。 产业要发展，人才是关键。面对马匹高效繁殖、疫病防控等领域人才紧缺问题，昭苏通过高校直 引、专家柔引、平台吸引，着力打造马产业人才集聚地。在县委组织部牵头下，当地梳理形成3类7种紧 缺专业人才清单，赴疆内外高校开展专项引才，与中国农业大学等8所高校签订人才对接协议，共引进 高校毕业生93名；依托援疆 ...