我们认为近期猪价的快速上涨刺激部分中小养殖场（户）补栏积极性恢复，本周仔猪和二元母猪价格止跌反弹反映出市场补栏意愿明显回升，高效后备母猪的替代有望进一步提高生产效率，后市产能去化进程和猪周期拐点的判断仍需观察。

1 行情回顾 .......................................................................................................................................................................... 1
1.1 行业表现 ................................................................................................................................................................ 1
1.2 估值表现 ................................................................................................................................................................ 2
1.3 个股表现 ................................................................................................................................................................ 2
2 本周观点 .......................................................................................................................................................................... 3
3 新闻动态 .......................................................................................................................................................................... 4
3.1 行业新闻 ................................................................................................................................................................ 4
3.2 公司动态 ................................................................................................................................................................ 5
4 行业数据 .......................................................................................................................................................................... 7
4.1 生猪养殖 ................................................................................................................................................................ 7
4.2 肉禽动态 ................................................................................................................................................................ 8
4.3 粮食价格动态 ...................................................................................................................................................... 10
4.4 糖和棉花价格动态 .............................................................................................................................................. 11
4.5 饲料动态 .............................................................................................................................................................. 12
4.6 水产养殖 .............................................................................................................................................................. 13