白羽鸡养殖产业结构的内在矛盾——规模化基本完成、行业集中度低、分产业链环节经营——造成了行业盈利能力在过去10 年处于下行周期。多年低迷之后，行业竞争格局出现长期变化的拐点。

禽链养殖板块：盈利趋势性好转，景气有望贯穿2019 年。上市公司一季报和半年报预告已经说明板块盈利趋势性拐点已现，景气将持续向上。1）祖代更新量不足的预期保持不变，2018 年预计在60-70 万套；换羽“三降”-能力下降、意愿下降、性能下降，限制中短期供给增加可能性。行业景气度有望持续至2019 年。2）三季度补库存周期开启，价格加速上涨，在产父母代存栏下降、商品代鸡苗销量下降，均有力支撑行业三季度季节性上涨。截止7 月中旬，毛鸡价格、鸡肉综合售价均创两年新高，鸡苗价格亦开启上涨通道。而鸡苗价格是股价的同步指标。

Russia's agriculture sector saw growth in fixed-capital investments in 2017, up by 3.1% in comparison with the same period a year ago. Moreover, investments slowed down in Q4 2017, up by 4.2%, after surging by 20.0% in Q3 2017.

The world population is set to reach 9.7 billion by 2050 from 7.5 billion in 2015, which is largely driven by rapid population growth in the Africa and Asia continents. This not only implies that the existing agricultural ecosystem should gear up to feed the additional 2.2 billion but also should accommodate their shift in dietary patterns and account for the shrinkage in acreage. Increased reliance on protein-rich diet, which comprise meat products, places an additional demand for grains. Urbanization and deforestation are resulting in climatic shifts that are severely affecting the agricultural yields. In view of all these, there is an imperative need for smart solutions that can effectively help to mitigate the negative effects and meet the demand.