Aquaculture industry chain has attracted the attention of large funds, aquaculture ETF on February 7 net inflow of more than 100 million yuan

The Shenwan agricultural index fell 2.11 per cent in the week before the Spring Festival.Over the same period, the Shanghai Composite fell 4.57 per cent and the Shenzhen Component index fell 5 per cent, with the agricultural sector outperforming the broader market.The first trading day after the festival breeding ETF(159865) ushered in a large subscription, with a net inflow of more than 100 million yuan.Last week a number of aquaculture listed companies released 2021 performance forecast, performance changes in line with expectations.During the Spring Festival, low pig prices consolidation.Pacific Securities expects pig prices to fall after the holiday as consumer demand weakens.At the end of December, there were 43.29 million breeding sows in China, 0.76% more than the previous month, 5.58% higher than the normal population.According to official data, the rate of industrial capacity reduction has slowed.After the festival, as pig prices fall, capacity will be eliminated faster.We firmly believe that industry capacity will bottom out in 3Q and pig prices will enter a cyclical uptrend.At present, the market value of most pig enterprises is lower than the historical average, the valuation has a certain margin of safety, maintain the breeding plate optimistic rating.

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