Group 1 - The livestock ETF (159865) has increased by over 1.2%, with a net inflow of nearly 300 million yuan in the past 10 days according to Wind data [1] - As of the time of reporting, over 60 million shares have been subscribed today [1] - Dongxing Securities indicates that capacity regulation driven by policy will remain a core theme for the foreseeable future, with expectations for the elimination of outdated capacity increasing, leading to significant catalysts for the sector [1] Group 2 - The livestock ETF (159865) tracks the CSI Livestock Index (930707), which selects listed companies involved in livestock farming, feed processing, and veterinary drug production to reflect the overall performance of related securities [1] - The constituent stocks cover the entire industry chain from farming to processing, demonstrating strong industry representation [1] - Investors without stock accounts can consider the Guotai CSI Livestock Farming ETF Connect A (012724) and Guotai CSI Livestock Farming ETF Connect C (012725) [1]

Group 1 - The core viewpoint is that the livestock and aquaculture industry is expected to experience a cyclical reversal by 2025, particularly in the beef and raw milk sectors, with domestic and international markets likely to resonate positively [1] - The pet industry is identified as a rare growth area, expected to benefit from demographic changes [1] - In the feed sector, leading companies are anticipated to achieve excess returns, benefiting from the recovery of the aquaculture market [1] Group 2 - The pig farming industry is projected to maintain its favorable conditions in 2025, with a focus on the recovery of undervalued leading companies [1] - In the poultry sector, the long-term consumption center for white chickens is expected to rise, while yellow chickens may benefit first from domestic demand [1] - The egg production sector is seeing growth in parent stock inventory, while short-term sugar imports are increasing [1] Group 3 - Rubber prices are expected to stabilize in the short term, with a positive outlook for the medium term [1] - Domestic corn supply and demand are tightening, leading to a moderate price increase forecast [1] - The Livestock ETF (159865) tracks the China Securities Livestock Index (930707), which reflects the overall performance of companies involved in livestock feed, breeding, animal vaccines, and veterinary drugs [1]

Group 1 - The core viewpoint of the article highlights a slight recovery in the breeding capacity of sows in the second quarter, with a total stock of 40.43 million heads by the end of June, reflecting a 0.1% increase compared to the previous month, nearing the levels expected by the end of Q2 2024 [1] - In terms of pig supply, the total output expected by Q2 2025 is 171.43 million heads, which is a year-on-year increase of 1.2%, with an average meat yield per head of 82.72 kg, up by 0.46 kg from the previous period [1] - The average price of commercial pigs dropped to 14.57 yuan/kg in June, a decrease of 20.6% year-on-year, while the price of piglets fell by 14.5% year-on-year, leading to a narrowing of average profits for large-scale farms to 7 yuan per head, with smallholders facing a loss of 6 yuan per head [1] Group 2 - The breeding ETF (159865) tracks the China Securities Livestock Index (930707), which selects listed companies involved in livestock feed, breeding, vaccines, and veterinary drugs to reflect the overall performance of the livestock industry [1] - The index comprehensively covers the upstream and downstream industries of livestock, effectively representing the overall development status of the sector [1] - Investors without stock accounts can consider the Guotai China Securities Livestock Breeding ETF Connect A (012724) and Connect C (012725) [1]

Group 1 - The livestock sector continues to rebound, with the Livestock ETF (159865) rising over 1.3% and experiencing net inflows for four consecutive days [1] - According to Everbright Securities, the industry capacity cycle for pig farming has bottomed out, but high inventory levels continue to impact market dynamics [1] - Recent policy initiatives are accelerating the industry's efforts to reduce inventory, which is expected to realign the supply-demand relationship, potentially leading to a long-term profit uptrend after inventory reduction concludes [1] Group 2 - The Livestock ETF (159865) tracks the China Securities Livestock Index (code: 930707), which is compiled by China Securities Index Co., Ltd. and reflects the overall performance of listed companies involved in livestock farming, feed processing, and veterinary drug production [1] - The China Securities Livestock Index covers the entire livestock industry chain, including pig and chicken farming as well as related support services, demonstrating strong industry representation [1] - The recovery in pig inventory levels is boosting demand for feed and animal health products, with performance gradually improving [1]