国务院常务会议11月15日审议通过了《全国“十三五”脱贫攻坚规划》，为确保实现 2020 年脱贫攻坚目标提出五大措施。首先，要建立健全产业到户到人的精准扶持机制，以市场为导向，发挥农民合作组织、龙头企业作用，因地制宜发展农林、旅游、电商等，推动每个贫困县、乡、村形成特色产业和拳头产品，开展水电、矿产资源开发资产收益扶贫改革试点。

Genetic modification (GM), also called genetic engineering (GE), is a technology where new traits are introduced into an organism by directly manipulating its genetic makeup. For instance, Deoxyribonucleic acid (DNA), is introduced or manipulated through intervention at the molecular level using biotechnology. In the process of this technology, scientists manipulate the characteristics of plants and animals by introducing DNA fragments, whole genes, or long stretches of DNA segments from different organisms. Scientists can also remove or exchange sequences of DNA in organisms or introduce genetic material to silent genes. GM seeds have a larger shelf life and pest resistance as compared to the conventional or non-GM seeds.

饲料投资逻辑分两层，首先，养殖高景气的前提下，养殖户对于饲料成本的敏感度下降，一方面，饲料原料下降的收益将有更大一部分可以保留在饲料行业；另一方面，养殖户（场）将提高全价料的使用比例，带来饲料销量的结构性增长。这两点在今年上半年饲料企业的报表中已经得到验证：销量小幅增长，毛利率逐步回升。

据悉，中国近期即将出台农村集体产权制度改革的相关意见，对如何赋予农民对集体资产股份的各项权能作出明确规划和要求。目前，中国农村集体产权改革涉及三大类内容：一是资源性资产的产权改革，主要涉及总面积 66.9 亿亩的农村集体土地，其中包括 55.3 亿亩农用地和 3.1 亿亩建设用地；二是经营性资产的产权改革，主要涉及房产或工具机器等；三是非经营性资产的产权改革，这类资产总价值已达 2.8 万亿元。目前农村集体产权改革的核心就是要把村集体的这些资产折股量化，让农民真正成为村集体的“股东”。

Trace minerals are inorganic or organic minerals that are crucial for normal functioning of living organisms. They are required in minute quantities. Inorganic trace minerals are common oxides, sulfates, carbonates, and chlorides of minerals. Organic trace minerals are formed by combining inorganic trace minerals with the organic molecules (e.g., polysaccharides and amino acids) called chelates. Organic trace minerals in animal feed are designed to improve the bioavailability and enhance the gut absorption of these minerals in animals.

Hay is grass or legumes that have been cut, dried, stored, and transformed into bales for feeding livestock. It is used as animal fodder when animals are not able to graze due to unsuitable weather or when they are kept in stables or barns. Haying machinery is used to cut the crops, which are then stored in the form of silage or bales. Forage is plant material that livestock graze on. Forage machinery is widely used for harvesting forage grains. The North American haying and forage machinery market constitutes a dominant part of the global haying and forage machinery market that accounts for a small portion, i.e., 7.78% of the global agricultural machinery market.

Mushrooms are porous, fleshy, and spongy and are most often considered as vegetables. They have both individual consumers and foodservice providers as primary consumers. Because of their medicinal and nutritional values, consumers in Singapore are willing to pay more for healthy, fresh, and hygienically-packed fresh mushrooms. However, Singapore is a net importer of fresh mushrooms with more than 95% of its fresh mushrooms being imported from other APAC countries.

2017 年玉米价格将大概率以低位维持稳定为主，大豆价格预计将继续承压。从饲料原料成本下降的角度考虑，2017 年饲料行业利润有望提升。同时，生猪存栏的逐渐恢复也将在明年得以体现，饲料销量有望继续增长。白羽鸡引种量下降的效果已经传递至父母代，预计明年将表现到商品代。2017 年鸡肉价格有望上涨，建议关注肉禽养殖标的。

动物疫苗行业规模快速扩容：受益于养殖业盈利提升，2017 年动物疫苗行业景气上行。同时，我们看好动物疫苗行业发展前景，预测行业市场规模有望从 2015年 142亿提升至 2020年 282亿元，年复合增长率 14.7%，增长的三重动力源自养殖规模化提升、市场苗加速发展、行业防疫意识增强。

行情回顾。上周（2016 年 11 月 14 日-11 月 18 日）农林牧渔（申万）下降 0.2%，跑输沪深 300 约 0.2 个百分点，跑输整体大盘约 0.1 个百分点，位于申万 28 个行业第 23 位。农林牧渔子行业中，海洋捕捞表现最好，涨幅为 2.9%；其他种植业表现最差，跌幅为 1.9%。