Western Securities: Pig prices continue to decline. It is suggested to seize the opportunity to layout the pig breeding sector.

Western Securities released a research report stating that the number of pigs slaughtered by listed pig companies in November 2025 was 18.2581 million, an increase of 26.67% year-on-year and a decrease of 2.96% month-on-month. From January to November, the cumulative number of pigs slaughtered by listed pig companies increased by about 20%, indicating that the new production capacity added in the past 24 years has been effectively converted into slaughter output, leading to a relatively balanced release of production. It is recommended to seize the layout opportunities in the pig farming sector and focus on pig companies with strong certainty of slaughter growth and stable operations. Recommended companies include Muyuan Shares, Wenshi Shares, Tangrenshen, Huatong Shares, and Juxing Agriculture and Animal Husbandry.