Core Insights - The article highlights the innovative practices in modern dairy farming, particularly in the context of high temperatures during the summer season, showcasing how technology and human care are utilized to maintain the comfort and productivity of dairy cows [1][3][5]. Group 1: Technological Innovations - The farm employs an automated sprinkler system and a fan system in the milking hall to maintain a comfortable temperature range of 16-18°C, ensuring that the cows' feed intake remains above 43 kilograms even during high temperatures [3][5]. - Each Holstein cow is equipped with a smart collar that captures real-time data on activity, rumination, and health, allowing for precise management and timely health alerts [5][9]. - The farm is transitioning to a "smart farm" model, implementing automated temperature control systems, precise feeding models, and health warning algorithms to enhance the quality assurance of milk production [9]. Group 2: Sustainable Practices - The farm utilizes a waste management system that converts cow manure into bedding material and organic fertilizer, promoting a green ecological cycle [7]. - A 300-acre windbreak forest of Xinjiang poplar trees, combined with an automated irrigation system, creates a unique microclimate that provides a comfortable environment for the cows and enhances the ecological value of the farm [7]. - The farm has been recognized as an "Ecological Circular Agriculture Demonstration Base" in Inner Mongolia for its sustainable practices [7]. Group 3: Production Efficiency - Despite the challenges posed by high temperatures, the farm maintains an average daily milk production of over 42 kilograms per cow [5]. - The farm has received multiple accolades, including being designated as a "National Standardized Demonstration Farm for Livestock and Poultry Breeding" and a "Source Base for Student Drinking Milk" [9].

Core Viewpoint - The price of piglets in China has continued to decline, reaching a low not seen in over five months, primarily due to stable supply and adverse weather conditions affecting transportation [1] Price Trends - The average price of piglets in the third week of July was 35.78 yuan per kilogram, a decrease of 0.7% from the previous week, marking an 18.4% year-on-year decline [1] - Prices varied by region, with North China having higher prices at 36.89 yuan per kilogram, while Southwest China had lower prices at 33.47 yuan per kilogram [1] Regional Price Variations - Prices increased in five provinces: Hainan, Shanxi, Guangdong, Shaanxi, and Anhui, while 24 provinces, including Tianjin, Liaoning, Xinjiang, Guizhou, and Hubei, experienced price declines [1]

Core Insights - The agricultural and rural affairs department reported price changes in livestock products and feed for the third week of July, indicating a mixed trend in prices across various categories [1][2]. Livestock Products - The average price of piglets was 35.78 yuan/kg, down 0.7% week-on-week and down 18.4% year-on-year [1]. - The average price of live pigs was 14.99 yuan/kg, also down 0.7% week-on-week and down 20.7% year-on-year [1]. - The average price of pork was 25.44 yuan/kg, down 0.1% week-on-week and down 13.1% year-on-year [1]. - The average price of eggs was 8.38 yuan/kg, up 0.1% week-on-week but down 22.1% year-on-year [1]. - The average price of chicken was 22.37 yuan/kg, down 0.2% week-on-week and down 5.3% year-on-year [1]. - The average price of broiler chicks was 3.78 yuan each, down 0.5% week-on-week and down 0.3% year-on-year [1]. - The average price of meat chicks was 3.10 yuan each, down 0.6% week-on-week and down 10.9% year-on-year [1]. Beef and Mutton Products - The average price of beef was 69.75 yuan/kg, down 0.1% week-on-week but up 1.7% year-on-year [2]. - The average price of mutton was 68.82 yuan/kg, down 0.2% week-on-week and down 2.6% year-on-year [2]. Feed Prices - The average price of corn was 2.50 yuan/kg, up 0.4% week-on-week but down 3.5% year-on-year [2]. - In the northeastern provinces, the corn price was 2.28 yuan/kg, unchanged from the previous week [2]. - In Guangdong province, the corn price was 2.60 yuan/kg, also unchanged from the previous week [2]. - The average price of soybean meal was 3.27 yuan/kg, down 0.6% week-on-week and down 7.9% year-on-year [2]. - The average price of fattening pig feed was 3.39 yuan/kg, unchanged from the previous week and down 4.2% year-on-year [2]. - The average price of meat chicken feed was 3.52 yuan/kg, unchanged from the previous week and down 3.0% year-on-year [2]. - The average price of layer feed was 3.23 yuan/kg, down 0.3% week-on-week and down 3.9% year-on-year [2].

A股猪肉股异动拉升，邦基科技涨停，大禹生物、神农集团涨超7%，正虹科技、巨星农牧纷纷拉升。 ...

Group 1 - The average purchase price of live pigs by designated slaughter enterprises was 16.10 yuan/kg, reflecting a week-on-week increase of 0.2% but a year-on-year decrease of 14.4% [1] - The average ex-factory price of white strip meat was 21.10 yuan/kg, showing a week-on-week increase of 0.4% and a year-on-year decrease of 12.8% [1]

1. Report Industry Investment Ratings - The investment strategy for the pig market is neutral [3] - The investment strategy for the egg market is cautiously bearish [6] 2. Core Views - The pig market remains in a pattern of strong supply and weak demand. The current consumption is in the seasonal off - peak, and future consumption is expected to remain weak. Attention should be paid to the changes in diseases and policies [2] - The egg market has a significant increase in the supply pressure due to the large increase in the number of newly - opened laying hens this month. Although the demand has some positive factors, the boost is limited as it is still the consumption off - peak [5] 3. Summary by Relevant Catalogs Pig Market Market News and Important Data - Futures: The closing price of the live pig 2509 contract yesterday was 14,365 yuan/ton, a change of +230.00 yuan/ton from the previous trading day, with a change rate of +1.63% [1] - Spot: The ex - ternary live pig price in Henan was 14.44 yuan/kg, unchanged from the previous trading day; in Jiangsu, it was 14.73 yuan/kg, a change of - 0.03 yuan/kg; in Sichuan, it was 13.62 yuan/kg, unchanged from the previous trading day [1] - Agricultural product wholesale prices: On July 21, the "Agricultural Product Wholesale Price 200 Index" was 112.91, up 0.17 points from last Friday. The average wholesale price of pork was 20.80 yuan/kg, up 0.7% from last Friday; beef was 63.91 yuan/kg, up 0.3%; mutton was 59.47 yuan/kg, down 0.8%; eggs were 7.32 yuan/kg, up 4.1%; white - striped chicken was 17.57 yuan/kg, up 2.4% [1] Market Analysis - The stable weight of the breeding end is mainly due to the difficulty of weight gain after the temperature rises, not the weight loss from slaughter. The slaughter progress of breeding enterprises has not increased this month, and the inventory remains relatively stable. The market remains in a pattern of strong supply and weak demand, and sporadic diseases in some areas this week have no impact on the overall production capacity [2] Egg Market Market News and Important Data - Futures: The closing price of the egg 2509 contract yesterday was 3,636 yuan/500 kilograms, a change of +41.00 yuan from the previous trading day, with a change rate of +1.14% [3] - Spot: The egg spot price in Liaoning was 2.90 yuan/jin, a change of +0.10; in Shandong, it was 3.35 yuan/jin, a change of +0.20; in Hebei, it was 3.07 yuan/jin, a change of +0.07 [3] - Inventory: On July 21, 2025, the national production - link inventory was 0.48 days, unchanged from yesterday, and the circulation - link inventory was 0.71 days, also unchanged from yesterday [4] Market Analysis - The newly - opened laying hens this month are mainly from the chicks replenished around March. The number of chicks sold increased significantly in March, and it is expected that the inventory of laying hens in production will increase significantly this month. Although the egg - laying rate has decreased due to high temperatures, the supply pressure has increased significantly. The demand has some positive factors, but the boost is limited as it is still the consumption off - peak [5]

Industry Investment Rating - The investment rating for the agricultural, forestry, animal husbandry, and fishery industry is "Outperform the Market" [1] Core Viewpoints - The agricultural sector has shown weak performance despite a general market uptrend, with the agricultural, forestry, animal husbandry, and fishery index declining by 0.14%, ranking 21st among 31 primary industries [11][12] - The report highlights a significant decline in pig prices due to weak demand and increased supply, with expectations of seasonal price fluctuations in the second half of 2025 [5][15] - The white feather chicken sector is experiencing price stabilization but remains deeply unprofitable, with a notable decrease in the number of breeding stock updated in the first half of 2025 [26][30] Summary by Sections 1. Market Overview - The agricultural, forestry, animal husbandry, and fishery index decreased by 0.14%, while the Shanghai and Shenzhen 300 indices increased by 1.09% and 0.69%, respectively [11] - The animal protection sector rebounded, but major sectors like pigs and chickens faced adjustments [12] 2. Livestock Industry Tracking 2.1 Pigs: Weak Demand and Slowing Production Growth - As of July 20, the average price of live pigs was 14.26 yuan/kg, down 0.26 yuan/kg from the previous week, influenced by low consumer demand and high temperatures [5][15] - The average weight of pigs at market was 128.83 kg, a decrease of 0.2 kg from the previous week, indicating a slowdown in weight gain [15] - The report anticipates a seasonal price increase during the peak consumption months of July and August, but significant pressure on prices is expected in the fourth quarter due to increased supply [15][18] 2.2 White Feather Chicken: Price Stabilization and Deep Losses - As of July 18, the price of white feather chicken chicks was 1.50 yuan/chick, showing a slight rebound, while the average price of meat chickens remained at 3.20 yuan/jin [26] - The first half of 2025 saw a 29.62% year-on-year decline in the number of breeding stock updated, raising concerns about future supply [26] - The industry is currently well-supplied, but uncertainties regarding imports due to avian influenza outbreaks pose risks and opportunities [26] 3. Crop Industry Tracking - Sugar prices slightly decreased to 6080 yuan/ton, while soybean prices increased by 1.1% to 3935 yuan/ton [30] - Cotton prices saw a minor increase to 15366 yuan/ton, and corn prices slightly dropped to 2375 yuan/ton [30]

Core Insights - The article highlights the unexpected profitability of Sichuan pig farming companies despite a nationwide decline in pig prices, indicating a successful adaptation to market pressures [2][3][4]. Group 1: Industry Performance - Sichuan pig farming companies have maintained profitability for 12 consecutive months, even as the average national pig price fell by 0.8% to 15.50 yuan/kg in the first half of the year [2][3]. - The total pig output in Sichuan reached 30.8 million heads in the first half of the year, marking a 1.0% increase year-on-year [3]. - The profitability of Sichuan pig companies is attributed to stable production scales and declining costs, with a notable example being the projected net profit of New Hope at 680 to 780 million yuan for the first half of 2025, representing over a 150% increase from the previous year [3][4]. Group 2: Market Dynamics - The article notes that the overall pig meat import volume in the first five months of the year was at a low of 450,000 tons, contributing to price stability [5]. - Sichuan's pig farming companies have avoided "internal competition" in production capacity, focusing on stability rather than aggressive expansion, which has helped maintain profitability [6][7]. - The average cost of pig farming in Sichuan has decreased, with companies like Juxing Agriculture aiming for a cost target of 6.5 yuan/kg, significantly lower than the industry average [7]. Group 3: Future Outlook - The article suggests that despite a recent decline in pig prices due to lower consumption expectations, Sichuan pig companies are likely to maintain profitability in the second half of the year, supported by seasonal demand increases and government policies aimed at stabilizing production [10][12]. - The Sichuan government has introduced measures to promote high-quality development in the livestock industry, including financial incentives for exceeding production targets [12].

Core Insights - The China International Supply Chain Promotion Expo (Chain Expo) is the world's first national-level exhibition focused on supply chains, showcasing various industries and emphasizing the core value of "linking the world and co-creating the future" [1] Group 1: Industry Collaboration and Innovation - The Chain Expo serves as a high-end platform for global enterprises to collaborate, aiming to create a more open, efficient, and sustainable supply chain ecosystem [2] - YTO Express's chairman highlighted the Expo's role in enhancing connectivity among upstream and downstream enterprises, promoting a "win-win chain" [2] - Sinopec showcased its commitment to clean energy supply chains, focusing on natural gas, hydrogen, and other sustainable energy sources, and signed cooperation agreements with nearly 50 companies in the hydrogen sector [3] Group 2: Technological Advancements - Numerous companies presented cutting-edge technologies and smart solutions at the Expo, demonstrating innovation in the supply chain sector [3] - Ninebot showcased 10 models of short-distance transportation and service robots, emphasizing its full industry chain layout in smart mobility [3] - Inner Mongolia Jishuo Technology introduced a leading "rumen capsule" technology for real-time livestock health monitoring, breaking foreign monopolies and enhancing domestic livestock farming [3] Group 3: Infrastructure and Equipment - China Communications Construction Group displayed major infrastructure projects, including Asia's largest self-propelled dredging vessel, enhancing global industrial chain collaboration [4] Group 4: Cross-Industry Synergy - CITIC Group presented its comprehensive service capabilities across various sectors, aiming to be a "bridge linking the world" [5] - China Resources Group showcased its strategic layout in health, green agriculture, and clean energy, with over 270,000 supply chain enterprises participating in its procurement activities [5] Group 5: Global Supply Chain Dynamics - Tsingtao Brewery emphasized the importance of global supply chain connectivity, leveraging smart cold chain logistics for product freshness [6] - APP (Asia Pulp & Paper) highlighted its role in cross-border industrial chains and ecological innovation, aiming to deepen international cooperation in the supply chain [6] Group 6: Future Outlook - The Chain Expo has evolved into a significant platform for global industrial chain cooperation, promoting a shift from product competition to collaborative ecosystem building [7] - Participating companies believe the Expo enhances technological matchmaking and market expansion, contributing to the resilience and sustainability of global supply chains [7]

Group 1 - The core viewpoint indicates that the global supply and demand situation for wheat, corn, rice, and soybeans is adjusting for the 2025/26 fiscal year, with an increase in wheat and rice consumption while production and inventory are being reduced. Conversely, corn production, consumption, and inventory are all being lowered, while soybean production, crushing volume, and ending inventory are being increased [1] - China's imports of corn and other agricultural products are expected to decrease, which may lead to improved planting efficiency due to relatively favorable grain prices [1] - The approval of clinical trials for ASF (African Swine Fever) subunit vaccines may benefit related vaccine companies if trials proceed successfully [1] Group 2 - In the first half of the year, the livestock and poultry farming industry saw a year-on-year increase in slaughter volume and meat production, with poultry meat production increasing by 7.4% and total feed production rising by 7.7%. The number of breeding sows also increased on a month-on-month basis, indicating a sustained improvement in the feed industry [1] - The pet consumption market remains robust, with pet food sales on the Douyin platform increasing by 73.97% year-on-year, highlighting a clear trend of rising domestic brands [1] - The Livestock ETF (159865) tracks the CSI Livestock Index (930707), which selects listed companies involved in feed, livestock farming, vaccines, and veterinary drugs to reflect the overall performance of the livestock industry [1]