Galaxy Securities pointed out that we believe that the pig cycle is in progress, during which in addition to closely tracking the trend of pig prices, the price of fertile sows and piglets can also be used as effective tracking indicators. The second bottoming out needs to observe the current round of pig price rebound. From an investment point of view, the breeding loss season is the best time for the layout of breeding individual stocks, on the one hand, it can be supported from the level of historical data, on the other hand, during the period of deep loss, the risk is released to the greatest extent, and the margin of safety is relatively higher. (CBN)