The agriculture, animal husbandry, and fishery sector launched another strong rally today (March 6). The market's sole Agriculture, Animal Husbandry, and Fishery ETF (159275) climbed rapidly after opening. As of the latest update, its price surged by 1.61%.
Among constituent stocks, seed companies led the gains again, while other sub-sectors also delivered impressive performances. At the time of writing, Gansu Dunhuang Seed Group Co.,Ltd. reached the daily limit-up, Yashili Group soared over 7%, and Shennong Seed, Adisseo, and Denghai Seed each advanced more than 4%.
On the news front, during an important conference, a national legislator and the chairman of a leading pig farming company proposed steadfastly advancing the intelligent upgrading of the pig farming industry by building large-scale AI models for swine production.
Guosheng Securities noted that the de-capacity trend in the breeding industry is clear, and supply pressures are expected to ease gradually. As capacity reduction continues and seasonal demand improves, hog prices are likely to trend upward.
Guohai Securities pointed out that overcapacity in the hog farming sector remains the primary issue, with the current breeding sow inventory still above normal levels. Industry consolidation is accelerating, strengthening the bargaining power of leading enterprises. In the short term, weak post-holiday demand has intensified supply-demand imbalances, likely leading to fluctuating and weaker hog prices and deeper industry losses, which may speed up capacity reduction. However, large firms' enhanced risk resilience could prolong the de-capacity cycle. In the poultry sector, supply of white-feathered broiler breeders is structurally tight, while inventories of yellow-feathered broiler parents continue to decline. Falling egg prices are driving layer flock reductions, with overall optimism for segments benefiting from supply contraction.
Valuation-wise, the agriculture, animal husbandry, and fishery sector remains at relatively low levels, presenting a favorable allocation opportunity. Data shows that as of yesterday's close (March 3), the price-to-book ratio of the CSI All Share Agriculture, Animal Husbandry, and Fishery Index, tracked by the sole Agriculture, Animal Husbandry, and Fishery ETF (159275), stood at 2.55 times, near the 31.96th percentile over the past five years, highlighting attractive medium- to long-term value.
Guojin Securities emphasized that, over the medium to long term, the hog farming industry still offers solid core profits. Since the African swine fever outbreak, many firms expanded with low-quality capacity, resulting in wide cost disparities. Leading companies are well-positioned to capture excess profits, suggesting a focus on low-cost, high-quality enterprises.
To capture potential reversals in the hog cycle, investors may consider the market's only Agriculture, Animal Husbandry, and Fishery ETF (159275). According to the index provider, this ETF tracks the CSI All Share Agriculture, Animal Husbandry, and Fishery Index, which includes top hog farming companies like Muyuan Foods and Wens Foodstuff Group, as well as segments such as feed, grain planting, and animal healthcare. Off-exchange investors can access the sector via the ETF's feeder funds (Class A: 013471; Class C: 013472).
Data source: Wind, as of end-February 2026. Industry classification follows Shenwan third-tier sectors. Charts and data sources: Shanghai and Shenzhen stock exchanges, as of March 6, 2026. Note: The Agriculture, Animal Husbandry, and Fishery ETF (159275) is the only ETF tracking the CSI All Share Agriculture, Animal Husbandry, and Fishery Index. Note: Brokerages may charge up to 0.5% in commissions for fund subscriptions or redemptions, including fees levied by exchanges and registration institutions. The ETF does not charge a sales service fee. Fee structure for the ETF feeder fund—Class A: subscription fee below ¥1 million is 1%; between ¥1-2 million, 0.6%; above ¥2 million, a flat ¥1,000 per transaction. Redemption fee: within 7 days, 1.5%; 7–30 days, 0.5%; 30 days or more, 0%. For Class C: redemption within 7 days is 1.5%; 7 days or more, 0%. Sales service fee is 0.3% annually. Risk disclosure: The Agriculture, Animal Husbandry, and Fishery ETF passively tracks the CSI All Share Agriculture, Animal Husbandry, and Fishery Index, with a base date of December 31, 2004, and launch date of December 12, 2016. Index constituents are adjusted per its methodology, and past performance does not indicate future results. Stocks mentioned are for illustrative purposes only and do not constitute recommendations or reflect fund management views. All information provided is for reference only; investors are responsible for their own decisions. Views, analyses, and forecasts herein are not investment advice, and the fund manager assumes no liability for losses arising from the use of this content. Investors should read the fund contract, prospectus, and key facts statement to understand risks and select products matching their risk tolerance. Past performance does not guarantee future results, and other funds managed by the manager are not indicative of this ETF's performance. As assessed by the manager, this ETF carries a risk rating of R3 (medium risk), suitable for balanced (C3) or higher risk-profile investors. Suitability assessments may vary by distributor; distributor ratings shall not be lower than the manager's assessment. Fund risk characteristics may differ from the risk rating due to varying factors. Investors should understand fund risks and make informed decisions based on investment objectives, horizon, experience, and risk tolerance. CSRC registration does not guarantee fund value, prospects, or returns. Invest with caution.
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