8月27日："农产品批发价格200指数"比昨天上升0.22个点 中新网8月27日电 据农业农村部网站消息，农业农村部监测数据显示，8月27日"农产品批发价格200指 数"为116.31，比昨天上升0.22个点，"菜篮子"产品批发价格指数为116.85，比昨天上升0.26个点。 截至今日14:00时，全国农产品批发市场猪肉平均价格为19.92元/公斤，比昨天下降0.4%；牛肉65.05元/ 公斤，比昨天上升0.2%；羊肉59.97元/公斤，比昨天上升0.5%；鸡蛋7.69元/公斤，比昨天上升1.1%；白 条鸡17.67元/公斤，与昨天持平。重点监测的28种蔬菜平均价格为4.90元/公斤，与昨天持平；重点监测 的6种水果平均价格为6.83元/公斤，比昨天下降0.9%。鲫鱼22.07元/公斤，比昨天下降0.6%；鲤鱼15.39 元/公斤，比昨天上升0.9%；白鲢鱼10.22元/公斤，比昨天上升4.0%；大带鱼40.16元/公斤，比昨天下降 2.3%。 今日，国内鲜活农产品批发市场重点监测的46个品种中，与昨天相比价格升幅前五名的是白鲢鱼、黄 瓜、洋白菜、西葫芦和莴笋，幅度分别为4.0%、3.8%、3.8%、2.2% ...

Core Viewpoint - The retail prices of poultry products are stable or increasing as schools prepare to reopen, indicating a rise in demand for chicken and eggs in major cities [1] Price Trends - From August 11 to 17, the retail price of eggs remained stable across 36 major cities, while the retail price of whole chickens increased by 0.3% [1] - In the eastern region, egg prices saw significant increases, with Fuzhou, Shenzhen, and Qingdao rising by 3.0%, 2.5%, and 1.5% respectively [1] - In the central region, whole chicken prices experienced notable increases, with Hefei and Wuhan rising by 4.2% and 2.3% respectively [1]

商品 环比（%） 同比（%） 白条猪 -0.3 9.4 白条鸡 -1.0 -1.2 鸡蛋 1.1 10.4 蔬菜 0.8 -1.0 水产品 1.1 0.7 ...

Group 1 - The retail prices of various food items show mixed trends, with some experiencing slight increases while others face declines both month-on-month and year-on-year [1] - Rice prices remain stable at 6.54 yuan per kilogram, while flour prices decreased by 0.2% month-on-month and 2.8% year-on-year to 6.15 yuan per kilogram [1] - Pork prices, specifically for hind leg meat, have seen a significant year-on-year decline of 14.5%, now priced at 27.71 yuan per kilogram [1] Group 2 - The price of fresh eggs is stable at 10.03 yuan per kilogram, but it has decreased by 15.0% compared to the same period last year [1] - Among aquatic products, the price of carp is 21.97 yuan per kilogram, showing a slight month-on-month decrease of 0.3% and a year-on-year decline of 1.1% [1] - Vegetable prices have increased by 2.0% month-on-month, with an average price of 7.00 yuan per kilogram, but they are down 15.5% year-on-year [1] Group 3 - Broccoli and cauliflower have the highest month-on-month price increases among vegetables, rising by 11.3% and 10.9% respectively [1] - Conversely, lotus root and pumpkin have seen month-on-month price declines of 1.1% [1] - The weighted average price for the vegetable category is derived from 30 different types of vegetables [1]

Group 1 - The core viewpoint of the article indicates that the supply of poultry products is sufficient in the market, leading to a decrease in retail prices of eggs and broiler chickens in major cities across the country [1] - From August 4 to 10, the retail prices of eggs and broiler chickens in 36 major cities decreased by 0.5% and 0.2% respectively [1] - The central region experienced the most significant decline in egg prices, with Guiyang, Nanning, and Xi'an seeing decreases of 8.5%, 1.0%, and 0.7% respectively [1] - In the western region, the price of broiler chickens also saw notable declines, with Hefei, Wuhan, and Nanchang reporting decreases of 4.7%, 2.2%, and 0.4% respectively [1]

1. Report Industry Investment Rating There is no information provided regarding the report industry investment rating in the given content. 2. Core Viewpoints of the Report - The Guosheng Fundamental High - Frequency Index was 127.0 points (previous value: 126.9 points), with a week - on - week increase of 5.4 points (previous increase: 5.3 points), and the year - on - year growth rate expanded. The long - short signal factor for interest - rate bonds was 4.7% (previous value: 4.6%) [1][9]. - In terms of production, the industrial production high - frequency index was 126.3 (previous value: 126.2), with a week - on - week increase of 5.0 points (previous increase: 5.0 points), and the year - on - year growth rate remained unchanged [1][9]. - Regarding total demand, the high - frequency index for commercial housing sales was 43.4 (previous value: 43.6), with a week - on - week decrease of 6.4 points (previous decrease: 6.4 points), and the year - on - year decline rate remained unchanged; the high - frequency index for infrastructure investment was 120.1 (previous value: 120.0), with a week - on - week increase of 4.8 points (previous increase: 4.5 points), and the year - on - year growth rate expanded; the high - frequency index for exports was 143.8 (previous value: 143.9), with a week - on - week increase of 3.1 points (previous increase: 3.4 points), and the year - on - year growth rate narrowed; the high - frequency index for consumption was 119.8 (previous value: 119.7), with a week - on - week increase of 2.7 points (previous increase: 2.6 points), and the year - on - year growth rate expanded [1][9]. - In terms of prices, the monthly环比 forecast for CPI was 0.2% (previous value: 0.1%); the monthly环比 forecast for PPI was 0.2% (previous value: 0.2%) [1][9]. - The high - frequency index for inventory was 161.1 (previous value: 161.1), with a week - on - week increase of 9.1 points (previous increase: 9.3 points), and the year - on - year growth rate narrowed. The high - frequency index for transportation was 129.6 (previous value: 129.4), with a week - on - week increase of 9.1 points (previous increase: 9.0 points), and the year - on - year growth rate expanded. The high - frequency index for financing was 233.9 (previous value: 233.3), with a week - on - week increase of 29.7 points (previous increase: 29.7 points), and the year - on - year growth rate remained unchanged [2][10]. 3. Summaries According to Relevant Catalogs Total Index: Fundamental High - Frequency Index Stable - Based on the report "Fundamental High - Frequency Data - An Effective Tool for Taking the Lead in Bond Market Investment" published on September 5, 2023, a high - frequency data system covering overall, production, demand, prices, and financing was constructed, and the Guosheng Fixed - Income Fundamental High - Frequency Index and its sub - items were developed [8]. - During August 4 - 8, 2025, the Guosheng Fundamental High - Frequency Index was 127.0 points, with a year - on - year increase of 5.4 points and an expanding growth rate [1][9]. Production: PTA Operating Rate Declined Significantly - The electric furnace operating rate was 63.5% (previous value: 62.8%); the polyester operating rate was 86.2% (previous value: 86.8%); the semi - tire operating rate was 74.4% (previous value: 74.5%); the full - tire operating rate was 61.0% (previous value: 61.1%); the PTA operating rate was 75.9% (previous value: 79.7%); the PX operating rate was 82.4% (previous value: 82.4%); the coal dispatch at Qinhuangdao Port was 38.0 tons (previous value: 47.5 tons) [11][13]. Real Estate Sales: Transaction Land Premium Rate Declined - The commercial housing transaction area in 30 large - and medium - sized cities was 17.9 square meters (previous value: 24.4 square meters); the transaction land premium rate in 100 large - and medium - sized cities was 3.6% (previous value: 9.0%) [22]. Infrastructure Investment: Petroleum Asphalt Operating Rate Declined - The operating rate of petroleum asphalt plants was 31.7% (previous value: 33.1%) [32]. Exports: Export Container Freight Rate Index Continued to Decline - The CCFI index was 1201 points (previous value: 1232 points); the RJ/CRB index was 293.6 points (previous value: 301.9 points) [39]. Consumption: Daily Average Movie Box Office Continued to Rise - The daily average movie box office was 24,143 yuan (previous value: 23,068 yuan) [52]. CPI: Vegetable Wholesale Prices Continued to Rise - The average wholesale price of pork was 20.4 yuan/kg (previous value: 20.5 yuan/kg); the average wholesale price of 28 key - monitored vegetables was 4.6 yuan/kg (previous value: 4.4 yuan/kg); the average wholesale price of 7 key - monitored fruits was 7.0 yuan/kg (previous value: 7.1 yuan/kg); the average wholesale price of white - striped chickens was 17.4 yuan/kg (previous value: 17.2 yuan/kg) [59]. PPI: Steam Coal Price Continued to Rise - The ex - works price of steam coal (produced in Shanxi) at Qinhuangdao Port was 674 yuan/ton (previous value: 658 yuan/ton); the futures settlement price of Brent crude oil was 67 US dollars/barrel (previous value: 72 US dollars/barrel); the spot settlement price of LME copper was 9613 US dollars/ton (previous value: 9672 US dollars/ton); the spot settlement price of LME aluminum was 2592 US dollars/ton (previous value: 2596 US dollars/ton) [65]. Transportation: Passenger Volume Remained Stable Overall - The subway passenger volume in first - tier cities was 3886 person - times (previous value: 3902 person - times); the road logistics freight rate index was 1050 points (previous value: 1050 points); the number of domestic flights was 14,580 (previous value: 14,562) [77]. Inventory: Electrolytic Aluminum Inventory Increased - The electrolytic aluminum inventory was 19.7 tons (previous value: 18.1 tons); the soda ash inventory was 185.8 tons (previous value: 179.0 tons) [85]. Financing: Local Government Bond Financing Continued to Decline - The net financing of local government bonds was 828 billion yuan (previous value: 2425 billion yuan); the net financing of credit bonds was 1973 billion yuan (previous value: 134 billion yuan); the 6M national - share bank acceptance bill transfer discount rate was 0.7% (previous value: 0.55%); the average value of the bill rate minus the certificate of deposit rate was - 0.9% (previous value: - 1.09%) [93].

Investment Rating - The overall industry rating is "Positive" for the agriculture sector, indicating expected returns above the CSI 300 index by more than 5% in the next six months [6][51]. Core Views 1. **Livestock Industry Chain** - The swine market is experiencing rising epidemic risks and policy support, which is expected to enhance the motivation for capacity reduction. The average price of live pigs is currently 13.71 CNY/kg, down 0.62 CNY from last week, while the average price for 15 kg piglets is 31.24 CNY/kg, down 1.48 CNY [5][19]. - The operating rate of large-scale slaughterhouses has increased to 31.9%, up 0.36 percentage points from last week and 7.26 percentage points year-on-year. The total output of pigs from 16 listed companies reached 100.75 million heads, a year-on-year increase of 16.9% [5][19]. - The number of breeding sows has decreased to 40.43 million heads, down 370,000 from the peak last year. The average profit per head for self-bred pigs is 45 CNY, an increase of 2 CNY from last week [6][20]. 2. **Poultry Industry** - Chicken prices are experiencing fluctuations, with the average price for broiler chickens at 3.54 CNY/lb, up 0.13 CNY from last week. The average price for white feather chickens is 13.9 CNY/kg, up 0.2 CNY [21][23]. - The industry is at a historically high capacity level, with limited imports in the first seven months of the year. The profitability per chicken has turned positive at 0.62 CNY [21][23]. - The yellow chicken market is also seeing price declines, with average prices at 9.77 CNY/kg for Lihua yellow chicken, down 0.02 CNY from last month [23][24]. 3. **Seed and Planting Industry** - The seed industry is benefiting from ongoing policy optimization and the promotion of genetically modified organisms (GMOs). The long-term investment value of leading seed companies is highlighted as they are at historical low valuations [10][24]. - Grain prices are experiencing short-term adjustments but are expected to rise in the medium term due to reduced imports and adverse weather conditions. The average purchase price for corn is 2441 CNY/ton, down 4 CNY from last week [12][24]. Company Recommendations - Recommended companies include: - Zhongchong Co., Ltd. - Buy [3] - Muyuan Foods Co., Ltd. - Buy [3] - Suqian Agricultural Development Co., Ltd. - Buy [3]

Group 1: Investment Ratings - Both the strategies for the pig and egg sectors are rated as neutral [3][5] Group 2: Core Views - For the pig market, the current reduction in pig spot volume has a greater impact on near - term contracts but is bearish for far - term contracts. The supply is likely to continue increasing in the short term, and the pattern of strong supply and weak demand is difficult to change. The data of reproductive sows from anti - involution culling may be realized in the second half of next year [2] - For the egg market, schools have concentrated stocking demand for the start of the semester in early September. As it gradually enters the seasonal consumption peak season, the increasing consumption demand will support the rise of egg prices. However, the impact of cold - storage eggs entering the market on the spot market should be closely monitored [4] Group 3: Market News and Key Data Pig Market - Futures: The closing price of the live pig 2509 contract yesterday was 14,010 yuan/ton, up 125 yuan/ton or 0.90% from the previous trading day [1] - Spot: The price of ternary live pigs in Henan was 13.96 yuan/kg, down 0.03 yuan/kg; in Jiangsu, it was 14.09 yuan/kg, down 0.01 yuan/kg; in Sichuan, it was 13.38 yuan/kg, unchanged from the previous day [1] - Agricultural product wholesale prices on August 6: The "Agricultural Product Wholesale Price 200 Index" was 113.78, up 0.26 points; the "Vegetable Basket" product wholesale price index was 113.93, up 0.30 points. The average wholesale price of pork was 20.67 yuan/kg, up 1.7%; beef was 64.47 yuan/kg, up 0.3%; mutton was 59.73 yuan/kg, up 0.7%; eggs were 7.54 yuan/kg, down 0.8%; white - striped chickens were 17.40 yuan/kg, down 0.5% [1] Egg Market - Futures: The closing price of the egg 2509 contract yesterday was 3,378 yuan/500 kilograms, up 48 yuan or 1.44% from the previous trading day [3] - Spot: In Liaoning, the egg price was 2.80 yuan/jin, unchanged; in Shandong, it was 2.95 yuan/jin, down 0.10 yuan; in Hebei, it was 2.62 yuan/jin, unchanged [3] - Inventory: On August 6, 2025, the production - link inventory was 0.89 days, unchanged from the previous day. The circulation - link inventory was 1.18 days, up 0.02 days or 1.72% [3]

Report Industry Investment Rating No information about the report industry investment rating is provided in the given content. Core Viewpoints - The current Guosheng fundamental high - frequency index is 126.9 points, with a year - on - year increase of 5.3 points, and the year - on - year growth rate remains unchanged. The long - short signal of interest - rate bonds remains unchanged, with a signal factor of 4.6% [1][9]. - In terms of production, the industrial production high - frequency index is 126.2, with a year - on - year increase of 5.0 points, and the year - on - year growth rate remains unchanged [1][9]. - In terms of total demand, the real - estate sales high - frequency index shows a year - on - year decline of 6.4 points, with the decline rate remaining unchanged; the infrastructure investment high - frequency index has a year - on - year increase of 4.5 points, and the year - on - year growth rate expands; the export high - frequency index has a year - on - year increase of 3.4 points, and the year - on - year growth rate narrows; the consumption high - frequency index has a year - on - year increase of 2.6 points, and the year - on - year growth rate expands [1][9]. - In terms of prices, the CPI monthly - on - monthly forecast is 0.1%, and the PPI monthly - on - monthly forecast is 0.2%, both remaining unchanged from the previous values [1][9]. - The inventory high - frequency index has a year - on - year increase of 9.3 points, and the year - on - year growth rate narrows; the transportation high - frequency index has a year - on - year increase of 9.0 points, and the year - on - year growth rate expands; the financing high - frequency index has a year - on - year increase of 29.7 points, and the year - on - year growth rate expands [2][10]. Summary by Directory 1. Total Index: Fundamental High - Frequency Index Remains Stable - The current Guosheng fundamental high - frequency index is 126.9 points (previous value: 126.8 points), with a year - on - year increase of 5.3 points (previous value: 5.3 points), and the year - on - year growth rate remains unchanged. The long - short signal of interest - rate bonds remains unchanged, with a signal factor of 4.6% (previous value: 4.6%) [1][9]. 2. Production: Electric Arc Furnace Operating Rate Rebounds - The electric arc furnace operating rate is 62.8%, up from the previous value of 62.2%; the polyester operating rate is 86.8%, down from the previous value of 86.9%; the semi - tire operating rate is 74.5%, down from the previous value of 75.9%; the full - tire operating rate is 61.1%, down from the previous value of 65.0%; the PTA operating rate is 79.7%, down from the previous value of 80.8%; the PX operating rate is 82.4%, the same as the previous value; the coal dispatch at Qinhuangdao Port is 47.5 tons, down from the previous value of 49.4 tons [11][16]. 3. Real - Estate Sales: Property Transactions Continue to Rebound - The transaction area of commercial housing in 30 large and medium - sized cities is 24.4 square meters, up from the previous value of 21.0 square meters; the premium rate of land transactions in 100 large and medium - sized cities is 9.0%, up from the previous value of 7.8% [28]. 4. Infrastructure Investment: Asphalt Operating Rate Rebounds - The operating rate of asphalt plants is 33.1%, up from the previous value of 28.8% [38]. 5. Exports: Export Container Freight Rate Index Continues to Decline - The CCFI index is 1232 points, down from the previous value of 1261 points; the RJ/CRB index is 301.9 points, down from the previous value of 303.8 points [45]. 6. Consumption: Passenger Car Manufacturers' Retail and Wholesale Sales Continue to Rebound - Passenger car manufacturers' retail sales are 66,611 units, up from the previous value of 58,207 units; wholesale sales are 77,867 units, up from the previous value of 57,826 units; the average daily box office is 23,068 yuan, up from the previous value of 14,066 yuan [59]. 7. CPI: Wholesale Prices of Pork and White - Feathered Chicken Decline Slightly - The average wholesale price of pork is 20.5 yuan/kg, down from the previous value of 20.7 yuan/kg; the average wholesale price of 28 key - monitored vegetables is 4.4 yuan/kg, the same as the previous value; the average wholesale price of 7 key - monitored fruits is 7.1 yuan/kg, the same as the previous value; the average wholesale price of white - feathered chicken is 17.2 yuan/kg, down from the previous value of 17.4 yuan/kg [65]. 8. PPI: Steam Coal Price Continues to Rise - The closing price of steam coal (produced in Shanxi) at Qinhuangdao Port is 658 yuan/ton, up from the previous value of 649 yuan/ton; the futures settlement price of Brent crude oil is 72 US dollars/barrel, up from the previous value of 69 US dollars/barrel; the spot settlement price of LME copper is 9672 US dollars/ton, down from the previous value of 9821 US dollars/ton; the spot settlement price of LME aluminum is 2596 US dollars/ton, down from the previous value of 2647 US dollars/ton [68]. 9. Transportation: Passenger Volume Rebounds - The passenger volume of the subway in first - tier cities is 3902 person - times, up from the previous value of 3900 person - times; the highway logistics freight rate index is 1050 points, the same as the previous value; the number of domestic flights is 14,562, up from the previous value of 14,428 [82]. 10. Inventory: Soda Ash Inventory Continues to Decline - The electrolytic aluminum inventory is 18.1 tons, up from the previous value of 15.5 tons; the soda ash inventory is 179.0 tons, down from the previous value of 187.4 tons [90]. 11. Financing: Local Government Bond and Credit Bond Financing Declines - The net financing of local government bonds is 2425 billion yuan, down from the previous value of 2929 billion yuan; the net financing of credit bonds is 134 billion yuan, down from the previous value of 549 billion yuan; the 6M state - owned stock bill transfer discount rate is 0.6%, down from the previous value of 0.74%; the average value of the bill rate - certificate of deposit rate is - 1.1%, down from the previous value of - 0.91% [100].

Price Trends Summary - The retail price of rice is 6.54 yuan/kg, showing a month-on-month increase of 0.2% and a year-on-year decrease of 0.3% [1] - The retail price of flour is 6.14 yuan/kg, with a month-on-month decrease of 0.3% and a year-on-year decrease of 3.0% [1] - The price of soybean oil is 12.82 yuan/kg, reflecting a month-on-month increase of 0.1% and a year-on-year decrease of 2.3% [1] - The price of peanut oil is 28.46 yuan/kg, showing a month-on-month decrease of 0.1% and a year-on-year decrease of 1.9% [1] - The price of pork (hind leg meat) is 27.86 yuan/kg, with a month-on-month increase of 0.5% and a year-on-year decrease of 9.5% [1] - The price of white strip chicken is 24.66 yuan/kg, reflecting a month-on-month increase of 0.5% and a year-on-year decrease of 2.4% [1] - The price of fresh eggs is 9.83 yuan/kg, showing a month-on-month increase of 2.1% and a year-on-year decrease of 14.7% [1] Vegetable Price Movements - The average price of vegetables is 6.78 yuan/kg, with a month-on-month decrease of 0.1% and a year-on-year decrease of 7.9% [1] - The top five vegetables with the highest month-on-month price increases include leeks (8.42 yuan/kg, +3.6%), spinach (9.01 yuan/kg, +2.2%), eggplant (5.99 yuan/kg, +2.0%), lettuce (7.46 yuan/kg, +1.5%), and ginger (15.07 yuan/kg, +1.1%) [1] - The top five vegetables with the largest month-on-month price decreases include pumpkin (4.70 yuan/kg, -2.1%), winter melon (3.86 yuan/kg, -1.8%), cucumber (5.93 yuan/kg, -1.7%), tomato (6.35 yuan/kg, -1.7%), and lotus root (11.39 yuan/kg, -0.9%) [1]