生猪屠宰行业总览：中国是全球最大猪肉消费国，18年生猪屠宰量高达6.9亿头。屠宰企业以赚取生猪-猪价之间的价差为盈利来源，盈利能力与猪周期反向波动。猪肉产品分为热鲜肉、冷鲜肉、冷冻肉，虽热鲜肉仍为市场主导，但随着渠道变革推动&传统观念改变，质嫩味美、营养价值高的冷鲜肉将加速取代没经过冷却排酸、易污染的热鲜肉。农贸渠道作为传统主流渠道，虽占比正趋于下降，但仍为猪肉最主要销售渠道，现代渠道占比小但正加速上升。

本周，养殖链两大事件：1）农业农村部披露8 月份能繁母猪数据，环比降9.1%，同比降37.4%；2）农科院发布，哈兽研研发的非瘟疫苗已经提交生物安全评价申请，即将进入临床试验阶段。

For the purpose of this report, only commercially produced feed has been considered. Commercially manufactured aqua feed pellets at varying crude protein levels, formulated both as sinking and floating feeds has been defined as aqua feed. The research scope of feed additives does not include feed premixes such as vitamin and mineral premixes.

The report identifies the situation of the agricultural sector of South Africa and predicts the growth of the various segments in the sector. In the report, the sectors taken into consideration are food crops/cereals, oilseeds, fruits, and vegetables. The report discusses the agricultural production, consumption, import, export, market trends, government regulations, growth forecast, and the key retail players present in the sector. The definitions of the commodity in the report are followed as per the definitions outlined by the Food and Agricultural Organization (FAO).

农林牧渔行业上半年净利润翻倍。2019年上半年，农林牧渔行业（共85家样本公司）实现营业收入2366.19亿元，同比增长14.91%；实现归属于母公司股东的净利润111.61亿元，同比增长96.88%。上半年，细分板块畜禽养殖和种植业领涨，均实现两位数增长。渔业、农业综合、林业、饲料分别实现个位数增长。