The agriculture, animal husbandry, and fishery sector experienced volatile gains today (March 25). The market's first Agriculture, Animal Husbandry, and Fishery ETF (159275) rose rapidly after opening and maintained high-level fluctuations. As of this report, its price increased by 1.37%.
Among constituent stocks, segments such as agricultural product processing, planting, and aquaculture led the gains. By the latest update, Guanong Shares hit the daily limit-up, Huazi Industrial surged over 5%, while China National Seed Group and Kingsun Tech both rose over 4%. Xinsai Shares, Meihua Holdings, and Xinnong Development were among those gaining over 3%.
Huaxi Securities noted that against a backdrop of widespread industry losses, large-weight hogs are being sold off more quickly to reduce fattening losses, significantly accelerating the pace of active capacity reduction. The National Development and Reform Commission has placed live hog prices in the Level 1 excessive decline warning zone and, together with the Ministry of Agriculture and Rural Affairs, held discussions with breeding enterprises, explicitly urging scientific production planning and implementation of capacity control measures. Although the short-term supply-demand imbalance persists, the pace of capacity reduction is expected to exceed forecasts, highlighting the value of a left-side investment approach.
From a valuation perspective, the sector remains relatively undervalued, suggesting a favorable timing for allocation. Data shows that as of yesterday's close (March 24), the price-to-book ratio of the CSI All Share Agriculture, Animal Husbandry, and Fishery Index, tracked by the ETF (159275), stood at 2.43 times, near a five-year low at the 16.47th percentile, indicating attractive medium- to long-term allocation potential.
Looking ahead, Sinolink Securities pointed out that in the short term, hog prices may still have room to decline. Recent industry capacity has decreased under policy adjustments and supply pressures, with prices falling below full cost lines. Continued losses are expected to drive further capacity reduction, though sector sentiment appears to be stabilizing at a low point. Over the medium to long term, the hog farming industry is projected to maintain solid core profits, with a recommendation to select high-quality, low-cost enterprises.
Investors seeking exposure to the full industry chain can consider the market's first Agriculture, Animal Husbandry, and Fishery ETF (159275). According to CSI Indexes, this ETF passively tracks the CSI All Share Agriculture, Animal Husbandry, and Fishery Index, which includes leading stocks like Muyuan Foods and Wens Foodstuff, and covers key segments such as feed, grain planting, and animal healthcare. Off-exchange investors can also access the sector through the ETF's feeder fund (Class A: 013471 / Class C: 013472).
Data source: Wind, as of end-February 2026. Industry classification follows Shenwan third-tier sectors. Image and data sources: Shanghai and Shenzhen stock exchanges, as of March 25, 2026. Note: The ETF (159275) is the first to track the CSI All Share Agriculture, Animal Husbandry, and Fishery Index. Note: Brokerages may charge a commission of up to 0.5% for subscriptions or redemptions, inclusive of fees from exchanges and registration institutions. The ETF does not levy sales service fees. Subscription rates for the ETF feeder fund Class A: below ¥1 million, 1%; ¥1–2 million, 0.6%; above ¥2 million, a flat ¥1,000 per transaction. Redemption fees: within 7 days, 1.5%; 7–30 days, 0.5%; 30 days or more, 0%. Redemption fees for Class C: within 7 days, 1.5%; 7 days or more, 0%. Sales service fee is 0.3%. Risk disclosure: The 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 rules; past performance does not indicate future results. Mentioned stocks are for illustrative purposes only and do not constitute recommendations or reflect fund management views. All information provided is for reference, and investors are solely responsible for their decisions. No content herein constitutes investment advice, and Huabao Fund assumes no liability for losses. Investors should read the fund contract, prospectus, and key facts to assess risks. Past performance is not indicative of future results. Other funds’ performance does not guarantee this ETF’s returns. As evaluated by the manager, this ETF carries a risk rating of R3 (medium risk), suitable for balanced (C3) or higher risk-tolerance investors. Sales agencies’ risk assessments may differ but cannot be lower than the manager’s rating. Fund risk characteristics may vary from the rating. Investors should consider their own circumstances before investing. CSRC registration does not guarantee returns. Invest with caution.
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