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PSY水平仍有恢复空间（头/年）
PSY水平仍有恢复空间（头/年）
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所属报告：
温氏股份-公司研究报告-猪周期景气上行养殖龙头稳健成长-240603（21页）.pdf
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相关数据
2022年PSY对比
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行业数据
2026-05-15
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我国生猪养殖行业PSY均值（头）
fCDlubTku70gfCBQU1nlnYflgLzvvIjlpLTvvIkgfAp8LS0tLS0tfC0tLS0tLS0tLS0tLS0tLXwKfCAyMDE2IHwgMTcuNSAgICAgICAgICB8CnwgMjAxNyB8IDE3LjMgICAgICAgICAgfAp8IDIwMTggfCAxOC41ICAgICAgICAgIHwKfCAyMDE5IHwgMTkuOCAgICAgICAgICB8CnwgMjAyMCB8IDE3LjggICAgICAgICAgfAp8IDIwMjEgfCAxOC43ICAgICAgICAgIHwKfCAyMDIyIHwgMjEuNSAgICAgICAgICB8CnwgMjAyMyB8IDIzLjIgICAgICAgICAgfAp8IDIwMjQgfCAyNC41ICAgICAgICAgIHwKCui1hOaWmeadpea6kO+8mmlGaW5E77yM5Lic5YW06K+B5Yi456CU56m25omA
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行业数据
2025-12-23
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能繁母猪：PSY生产指数（年）
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行业数据
2025-12-17
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1993-2024年美国窝均活仔数及PSY（测算）走势
fCDlubTku70gfCDnvo7lm73nqp3lnYfmtLvku5TmlbDvvIjlpLTvvIkgfCDnvo7lm71QU1nvvIjmtYvnrpfvvIzlj7PvvIkgfAp8LS0tLS0tfC0tLS0tLS0tLS0tLS0tLS0tLS0tLS18LS0tLS0tLS0tLS0tLS0tLS0tLS0tfAp8IDE5OTMgfCA4LjIgICAgICAgICAgICAgICAgICB8IDE0LjUgICAgICAgICAgICAgICAgfAp8IDE5OTggfCA5LjEgICAgICAgICAgICAgICAgICB8IDE2LjUgICAgICAgICAgICAgICAgfAp8IDIwMDMgfCA5LjQgICAgICAgICAgICAgICAgICB8IDE3LjggICAgICAgICAgICAgICAgfAp8IDIwMDggfCAxMC4wICAgICAgICAgICAgICAgICB8IDE5LjUgICAgICAgICAgICAgICAgfAp8IDIwMTMgfCAxMC42ICAgICAgICAgICAgICAgICB8IDIwLjggICAgICAgICAgICAgICAgfAp8IDIwMTggfCAxMS4yICAgICAgICAgICAgICAgICB8IDIyLjAgICAgICAgICAgICAgICAgfAp8IDIwMjMgfCAxMS44ICAgICAgICAgICAgICAgICB8IDIzLjAgICAgICAgICAgICAgICAgfAoK6LWE5paZ5p2l5rqQ77yaVVNEQeOAgei0ouS/oeivgeWIuA==
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行业数据
2025-10-23
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2016-2024年中国PSY走势
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行业数据
2025-10-23
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2013-2023年丹麦PSY及料肉比情况
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行业数据
2025-10-23
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2023年InterPIG成员国与我国生猪养殖PSY对比
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行业数据
2025-10-23
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图表332020-2024年中国PSY连年提升(头)
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行业数据
2025-06-09
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图表272020-2023年中国PSY连年提升(头)
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行业数据
2025-02-06
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生猪PSY（每头母猪每年提供的断奶仔猪头数）
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行业数据
2025-01-23
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图表52022年各国平均PSY对照
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行业数据
2024-08-20
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国内养殖场PSY均值
fCDlubTku70gfCBQU1nlubPlnYflgLzvvIjlubQv5aS077yJIHwKfC0tLS0tLXwtLS0tLS0tLS0tLS0tLS0tLS0tLS18CnwgMjAxOCB8IDE4LjIgICAgICAgICAgICAgICAgfAp8IDIwMTkgfCAxOS41ICAgICAgICAgICAgICAgIHwKfCAyMDIwIHwgMTcuNSAgICAgICAgICAgICAgICB8CnwgMjAyMSB8IDE4LjMgICAgICAgICAgICAgICAgfAp8IDIwMjIgfCAyMS4xICAgICAgICAgICAgICAgIHwKfCAyMDIzIHwgMjIuNyAgICAgICAgICAgICAgICB8CgrotYTmlpnmnaXmupDvvJppRmluZA==
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其它
2024-08-05
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2016-2023年我国生猪养殖行业PSY均值
fCDlubTku70gfCBQU1nlubPlnYflgLw65Lit5Zu9IHwKfC0tLS0tLXwtLS0tLS0tLS0tLS0tLS0tfAp8IDIwMTYgfCAxNy41ICAgICAgICAgICB8CnwgMjAxNyB8IDE3LjUgICAgICAgICAgIHwKfCAyMDE4IHwgMTguNSAgICAgICAgICAgfAp8IDIwMTkgfCAxOS41ICAgICAgICAgICB8CnwgMjAyMCB8IDE3LjUgICAgICAgICAgIHwKfCAyMDIxIHwgMTguNSAgICAgICAgICAgfAp8IDIwMjIgfCAyMC41ICAgICAgICAgICB8CnwgMjAyMyB8IDIxLjUgICAgICAgICAgIHwKCui1hOaWmeadpea6kO+8mmlGaW5E77yM5Lit5Zu96ZO25rKz6K+B5Yi456CU56m26Zmi
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其它
2024-04-24
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2016-2022年中美能繁母猪PSY对比（单位：头）
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其它
2024-03-22
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非洲猪瘟在中国传播以前，公司凭借优秀的种猪繁育体系和饲喂管理，使得公司各项养殖指标均领先行业：非洲猪瘟前公司 PSY（单头母猪年可生产断奶仔猪数量）水平可以达到 24-25，母猪配种分娩率为 91%，仔猪成本控制在 310 元/头左右，肉猪上市率接近95%，优秀的养殖水平使得公司综合成本在 12 元/公斤以下。过去的几年时间内，公司努力优化母猪结构、强化生物安全管理、持续优化生产指标，养殖成本持续改善。截至2024 年 4 月，公司 PSY 水平恢复至 23 的水平，母猪配种分娩率恢复至 84%，肉猪上市率稳定在 92%左右，仔猪成本为 350 元/头，多项指标已经接近非洲猪瘟之前的水平。截至2024 年 4 月，公司综合成本已经下降至 14.4 元/公斤，较 2023 年的 16.6-16.8 元/公斤明显下降，低于行业内大部分可比公司，公司养殖盈利能力行业领先。目前公司各项生产指标仍有持续优化的空间，假设在其他生产指标均保持不变的情况下，公司 PSY 若能恢复至 24 的水平，单头仔猪成本可下降约 15 元/头，对应 115KG 标猪出栏可下降 0.13元/公斤的成本，公司养殖成本仍有较大挖潜空间。
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温氏股份-公司研究报告-猪周期景气上行养殖龙头稳健成长-240603（21页）.pdf
公司资产负债率水平处于行业中下水平
公司净利率水平行业领先
公司历年归母净利润与走势
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