近期，银河证券发布研报指出，当前生猪养殖行业正迎来重要的布局窗口期。受前期产能去化、疫病扰动及成本端压力等因素影响，行业供给持续收缩，猪价已进入上行通道。随着能繁母猪存栏量回落至合理区间，叠加消费旺季临近，市场对猪周期反转预期增强。银河证券认为，在行业集中度不断提升的背景下，具备成本控制优势、疫病防控能力强以及资金实力雄厚的头部养殖企业将率先受益。此外，政策层面持续释放稳产保供信号，也为行业健康发展提供支撑。投资者可重点关注具备完整产业链、出栏增长确定性高且估值处于历史低位的优质标的，把握本轮周期上行带来的中长期配置机会。
Recently, Galaxy Securities released a research report highlighting that the hog farming industry is currently entering a key window for strategic investment. Due to prior capacity reductions, disease outbreaks, and cost pressures, industry supply has continued to contract, pushing pig prices into an upward trend. With breeding sow inventories returning to a reasonable range and peak consumption seasons approaching, market expectations for a cyclical upturn in pork prices are strengthening. Galaxy Securities believes that leading companies with strong cost control, robust disease prevention capabilities, and solid financial resources will benefit first as industry consolidation accelerates. Furthermore, supportive government policies aimed at stabilizing production and ensuring supply provide additional backing for the sector’s healthy development. Investors are advised to focus on high-quality companies with integrated industrial chains, reliable growth in hog deliveries, and valuations near historical lows, thereby capturing medium- to long-term opportunities from this cyclical upswing.
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